High-rolling investors have positioned themselves bullish on Bit Digital BTBT, and it's important for retail traders to take note. \This activity came to our attention today through Benzinga's tracking of publicly available options data. The identities of these investors are uncertain, but such a significant move in BTBT often signals that someone has privileged information.
Today, Benzinga's options scanner spotted 12 options trades for Bit Digital. This is not a typical pattern.
The sentiment among these major traders is split, with 91% bullish and 8% bearish. Among all the options we identified, there was one put, amounting to $33,750, and 11 calls, totaling $1,415,998.
Predicted Price Range
Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $3.0 to $5.0 for Bit Digital over the last 3 months.
Analyzing Volume & Open Interest
Looking at the volume and open interest is a powerful move while trading options. This data can help you track the liquidity and interest for Bit Digital'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 Bit Digital's whale trades within a strike price range from $3.0 to $5.0 in the last 30 days.
Bit Digital Option Activity Analysis: Last 30 Days
Noteworthy Options Activity:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| BTBT | CALL | SWEEP | BULLISH | 01/16/26 | $2.0 | $1.9 | $2.0 | $3.00 | $200.0K | 1.4K | 2.5K |
| BTBT | CALL | SWEEP | BULLISH | 01/16/26 | $2.0 | $1.9 | $2.0 | $3.00 | $200.0K | 1.4K | 1.5K |
| BTBT | CALL | TRADE | BULLISH | 01/16/26 | $2.0 | $1.95 | $2.0 | $3.00 | $199.8K | 1.4K | 6.0K |
| BTBT | CALL | SWEEP | BULLISH | 01/16/26 | $2.0 | $1.9 | $1.9 | $3.00 | $198.1K | 1.4K | 3.5K |
| BTBT | CALL | TRADE | BULLISH | 01/16/26 | $2.0 | $1.95 | $2.0 | $3.00 | $100.0K | 1.4K | 7.5K |
About Bit Digital
Bit Digital Inc is engaged in the Bitcoin mining business, Ethereum staking activities and specialized cloud-infrastructure services for artificial intelligence applications through its wholly owned subsidiaries.. Its mining platform operates with the primary intent of accumulating bitcoin which may sell for fiat currency from time to time depending on market conditions. It generates revenue from digital asset mining and ETH staking business.
Following our analysis of the options activities associated with Bit Digital, we pivot to a closer look at the company's own performance.
Current Position of Bit Digital
- With a volume of 12,572,664, the price of BTBT is up 4.57% at $3.43.
- RSI indicators hint that the underlying stock may be approaching overbought.
- Next earnings are expected to be released in 39 days.
What The Experts Say On Bit Digital
1 market experts have recently issued ratings for this stock, with a consensus target price of $6.0.
- An analyst from HC Wainwright & Co. persists with their Buy rating on Bit Digital, maintaining a target price of $6.
Options are a riskier asset compared to just trading the stock, but they have higher profit potential. Serious options traders manage this risk by educating themselves daily, scaling in and out of trades, following more than one indicator, and following the markets closely.
If you want to stay updated on the latest options trades for Bit Digital, Benzinga Pro gives you real-time options trades alerts.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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