Deep-pocketed investors have adopted a bullish approach towards Core Scientific CORZ, and it's something market players shouldn't ignore. Our tracking of public options records at Benzinga unveiled this significant move today. The identity of these investors remains unknown, but such a substantial move in CORZ usually suggests something big is about to happen.
We gleaned this information from our observations today when Benzinga's options scanner highlighted 25 extraordinary options activities for Core Scientific. This level of activity is out of the ordinary.
The general mood among these heavyweight investors is divided, with 48% leaning bullish and 44% bearish. Among these notable options, 3 are puts, totaling $326,000, and 22 are calls, amounting to $1,492,308.
Predicted Price Range
Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $5.0 to $12.0 for Core Scientific over the recent three months.
Analyzing Volume & Open Interest
Looking at the volume and open interest is an insightful way to conduct due diligence on a stock.
This data can help you track the liquidity and interest for Core Scientific's options for a given strike price.
Below, we can observe the evolution of the volume and open interest of calls and puts, respectively, for all of Core Scientific's whale activity within a strike price range from $5.0 to $12.0 in the last 30 days.
Core Scientific Call and Put Volume: 30-Day Overview
Significant Options Trades Detected:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| CORZ | CALL | SWEEP | BULLISH | 01/17/25 | $2.8 | $2.65 | $2.85 | $10.00 | $285.1K | 11.8K | 1.0K |
| CORZ | CALL | SWEEP | BULLISH | 01/17/25 | $2.95 | $2.95 | $2.95 | $10.00 | $270.9K | 11.8K | 10 |
| CORZ | PUT | SWEEP | BULLISH | 07/19/24 | $0.35 | $0.25 | $0.25 | $9.00 | $235.9K | 9.5K | 724 |
| CORZ | CALL | SWEEP | BEARISH | 07/12/24 | $0.35 | $0.25 | $0.3 | $11.00 | $105.5K | 13 | 2.0K |
| CORZ | CALL | SWEEP | BULLISH | 07/19/24 | $0.9 | $0.85 | $0.89 | $10.00 | $89.0K | 20.2K | 1.6K |
About Core Scientific
Core Scientific Inc is engaged in Blockchain and AI Infrastructure, Digital Asset Self-Mining, Premium Hosting, Blockchain Technology, and Artificial Intelligence related services. The business operates in two segments being; Equipment Sales and Hosting which consists of blockchain infrastructure, third-party hosting business and equipment sales to customers. Mining segment consists of digital asset mining for its account. The blockchain business generates revenue from the sale of consumption-based contracts and by providing hosting services. The digital asset mining segment earns revenue from operating a firm's owned computer equipment as part of a pool of users that process transactions conducted on one or more blockchain networks. In exchange, it receives digital currency assets.
Present Market Standing of Core Scientific
- With a trading volume of 11,378,699, the price of CORZ is up by 4.62%, reaching $10.3.
- Current RSI values indicate that the stock is may be overbought.
- Next earnings report is scheduled for 42 days from now.
What Analysts Are Saying About Core Scientific
Over the past month, 4 industry analysts have shared their insights on this stock, proposing an average target price of $12.625.
- Consistent in their evaluation, an analyst from BTIG keeps a Buy rating on Core Scientific with a target price of $15.
- An analyst from Ladenburg Thalmann downgraded its action to Buy with a price target of $14.
- Consistent in their evaluation, an analyst from HC Wainwright & Co. keeps a Buy rating on Core Scientific with a target price of $11.
- An analyst from BTIG has decided to maintain their Buy rating on Core Scientific, which currently sits at a price target of $10.
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 Core Scientific 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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