Whales with a lot of money to spend have taken a noticeably bullish stance on Hut 8.
Looking at options history for Hut 8 HUT we detected 23 trades.
If we consider the specifics of each trade, it is accurate to state that 56% of the investors opened trades with bullish expectations and 34% with bearish.
From the overall spotted trades, 2 are puts, for a total amount of $56,940 and 21, calls, for a total amount of $1,996,847.
Predicted Price Range
Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $8.0 to $25.0 for Hut 8 during the past quarter.
Volume & Open Interest Trends
In today's trading context, the average open interest for options of Hut 8 stands at 1383.25, with a total volume reaching 6,051.00. The accompanying chart delineates the progression of both call and put option volume and open interest for high-value trades in Hut 8, situated within the strike price corridor from $8.0 to $25.0, throughout the last 30 days.
Hut 8 30-Day Option Volume & Interest Snapshot
Largest Options Trades Observed:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| HUT | CALL | SWEEP | BULLISH | 01/16/26 | $9.05 | $8.4 | $9.1 | $20.00 | $384.9K | 250 | 0 |
| HUT | CALL | SWEEP | BEARISH | 01/16/26 | $9.4 | $9.1 | $9.1 | $20.00 | $202.0K | 250 | 991 |
| HUT | CALL | TRADE | BULLISH | 07/19/24 | $4.35 | $4.25 | $4.35 | $15.50 | $153.9K | 979 | 253 |
| HUT | CALL | TRADE | BEARISH | 01/16/26 | $9.4 | $9.1 | $9.1 | $20.00 | $135.5K | 250 | 607 |
| HUT | CALL | TRADE | BEARISH | 01/16/26 | $10.35 | $9.1 | $9.1 | $20.00 | $121.0K | 250 | 857 |
About Hut 8
Hut 8 Corp is engaged in the mining of digital assets with an operational focus on utilizing specialized equipment to solve complex computational problems to validate transactions on the Bitcoin blockchain and receiving Bitcoin in return for successful services. The company has four reportable business segments: Digital Assets Mining, Managed Services, High Performance Computing -Colocation and Cloud, and Other. It derives maximum revenue from Digital Assets Mining segment.
In light of the recent options history for Hut 8, it's now appropriate to focus on the company itself. We aim to explore its current performance.
Present Market Standing of Hut 8
- With a trading volume of 5,122,155, the price of HUT is down by -6.12%, reaching $19.65.
- Current RSI values indicate that the stock is may be overbought.
- Next earnings report is scheduled for 26 days from now.
What Analysts Are Saying About Hut 8
Over the past month, 4 industry analysts have shared their insights on this stock, proposing an average target price of $15.375.
- In a cautious move, an analyst from HC Wainwright & Co. downgraded its rating to Sell, setting a price target of $7.
- Consistent in their evaluation, an analyst from Needham keeps a Buy rating on Hut 8 with a target price of $15.
- An analyst from Canaccord Genuity has decided to maintain their Buy rating on Hut 8, which currently sits at a price target of $22.
- Consistent in their evaluation, an analyst from Benchmark keeps a Buy rating on Hut 8 with a target price of $17.
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 Hut 8, 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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Date of Trade | ticker | Put/Call | Strike Price | DTE | Sentiment |
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