Investors with a lot of money to spend have taken a bullish stance on Cipher Mining CIFR.
And retail traders should know.
We noticed this today when the trades showed up on publicly available options history that we track here at Benzinga.
Whether these are institutions or just wealthy individuals, we don't know. But when something this big happens with CIFR, it often means somebody knows something is about to happen.
So how do we know what these investors just did?
Today, Benzinga's options scanner spotted 8 uncommon options trades for Cipher Mining.
This isn't normal.
The overall sentiment of these big-money traders is split between 50% bullish and 37%, bearish.
Out of all of the special options we uncovered, 3 are puts, for a total amount of $238,315, and 5 are calls, for a total amount of $363,645.
Expected Price Movements
After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $3.5 and $4.5 for Cipher Mining, spanning the last three months.
Analyzing Volume & Open Interest
In terms of liquidity and interest, the mean open interest for Cipher Mining options trades today is 3818.83 with a total volume of 9,167.00.
In the following chart, we are able to follow the development of volume and open interest of call and put options for Cipher Mining's big money trades within a strike price range of $3.5 to $4.5 over the last 30 days.
Cipher Mining Call and Put Volume: 30-Day Overview
Largest Options Trades Observed:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| CIFR | CALL | TRADE | BULLISH | 07/19/24 | $0.85 | $0.7 | $0.84 | $4.00 | $168.0K | 6.6K | 519 |
| CIFR | PUT | SWEEP | BULLISH | 07/19/24 | $0.25 | $0.15 | $0.2 | $4.00 | $103.1K | 2.7K | 315 |
| CIFR | PUT | SWEEP | BULLISH | 07/19/24 | $0.3 | $0.2 | $0.2 | $4.00 | $100.5K | 2.7K | 5.4K |
| CIFR | CALL | SWEEP | BEARISH | 01/17/25 | $2.1 | $2.05 | $2.05 | $3.50 | $87.1K | 8.2K | 54 |
| CIFR | CALL | TRADE | NEUTRAL | 07/19/24 | $0.9 | $0.8 | $0.85 | $4.00 | $42.5K | 6.6K | 2.5K |
About Cipher Mining
Cipher Mining Inc ia an emerging technology company that operates in the Bitcoin mining ecosystem in the United States. The company is developing a cryptocurrency mining business, specializing in Bitcoin. The company is expanding and strengthening the Bitcoin network's critical infrastructure in the United States.
Following our analysis of the options activities associated with Cipher Mining, we pivot to a closer look at the company's own performance.
Present Market Standing of Cipher Mining
- Trading volume stands at 13,891,335, with CIFR's price up by 13.73%, positioned at $4.72.
- RSI indicators show the stock to be may be approaching overbought.
- Earnings announcement expected in 36 days.
What The Experts Say On Cipher Mining
A total of 3 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $6.666666666666667.
- An analyst from Needham has revised its rating downward to Buy, adjusting the price target to $5.
- In a cautious move, an analyst from Cantor Fitzgerald downgraded its rating to Overweight, setting a price target of $9.
- Consistent in their evaluation, an analyst from HC Wainwright & Co. keeps a Buy rating on Cipher Mining with a target price of $6.
Options trading presents higher risks and potential rewards. Astute traders manage these risks by continually educating themselves, adapting their strategies, monitoring multiple indicators, and keeping a close eye on market movements. Stay informed about the latest Cipher Mining options trades with real-time alerts from Benzinga Pro.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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