Deep-pocketed investors have adopted a bearish 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 10 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 40% leaning bullish and 60% bearish. Among these notable options, 8 are puts, totaling $335,625, and 2 are calls, amounting to $531,044.
What's The Price Target?
After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $7.5 and $10.0 for Core Scientific, spanning the last three months.
Volume & Open Interest Trends
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 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 trades within a strike price range from $7.5 to $10.0 in the last 30 days.
Core Scientific Call and Put Volume: 30-Day Overview
Biggest Options Spotted:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| CORZ | CALL | TRADE | BULLISH | 08/16/24 | $1.9 | $1.9 | $1.9 | $7.50 | $380.0K | 4.8K | 2.0K |
| CORZ | CALL | SWEEP | BEARISH | 08/16/24 | $2.9 | $1.95 | $1.96 | $7.50 | $151.0K | 4.8K | 4.8K |
| CORZ | PUT | SWEEP | BULLISH | 08/30/24 | $0.3 | $0.25 | $0.3 | $9.00 | $77.1K | 37 | 2.5K |
| CORZ | PUT | SWEEP | BEARISH | 08/16/24 | $0.6 | $0.55 | $0.6 | $10.00 | $46.9K | 3.3K | 2.0K |
| CORZ | PUT | TRADE | BULLISH | 08/16/24 | $0.7 | $0.65 | $0.65 | $10.00 | $46.8K | 3.3K | 3.5K |
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.
In light of the recent options history for Core Scientific, it's now appropriate to focus on the company itself. We aim to explore its current performance.
Where Is Core Scientific Standing Right Now?
- Trading volume stands at 3,859,592, with CORZ's price down by -1.55%, positioned at $9.55.
- RSI indicators show the stock to be is currently neutral between overbought and oversold.
- Earnings announcement expected in 93 days.
Professional Analyst Ratings for Core Scientific
In the last month, 3 experts released ratings on this stock with an average target price of $17.666666666666668.
- Showing optimism, an analyst from B. Riley Securities upgrades its rating to Buy with a revised price target of $13.
- An analyst from Cantor Fitzgerald has revised its rating downward to Overweight, adjusting the price target to $20.
- An analyst from Cantor Fitzgerald has revised its rating downward to Overweight, adjusting the price target to $20.
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 Core Scientific, 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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