Deep-pocketed investors have adopted a bearish approach towards Bitdeer Technologies BTDR, 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 BTDR 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 Bitdeer Technologies. This level of activity is out of the ordinary.
The general mood among these heavyweight investors is divided, with 30% leaning bullish and 50% bearish. Among these notable options, 2 are puts, totaling $71,700, and 8 are calls, amounting to $382,800.
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 $7.5 for Bitdeer Technologies over the recent three 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 Bitdeer Technologies'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 Bitdeer Technologies's whale trades within a strike price range from $5.0 to $7.5 in the last 30 days.
Bitdeer Technologies Option Activity Analysis: Last 30 Days
Largest Options Trades Observed:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| BTDR | CALL | SWEEP | BEARISH | 03/21/25 | $5.0 | $3.0 | $3.0 | $5.00 | $203.1K | 35 | 1.1K |
| BTDR | PUT | SWEEP | BEARISH | 03/21/25 | $1.05 | $0.8 | $1.0 | $5.00 | $46.7K | 12 | 967 |
| BTDR | CALL | TRADE | BEARISH | 03/21/25 | $3.5 | $3.0 | $3.0 | $5.00 | $26.4K | 35 | 1.1K |
| BTDR | CALL | TRADE | BULLISH | 01/16/26 | $5.0 | $0.0 | $3.0 | $7.50 | $26.1K | 0 | 175 |
| BTDR | CALL | TRADE | NEUTRAL | 03/21/25 | $3.5 | $2.3 | $3.0 | $5.00 | $25.8K | 35 | 86 |
About Bitdeer Technologies
Bitdeer Technologies Group is principally engaged in provision of digital asset mining services. Its majority business segments are: proprietary mining, cloud hash rate sharing and cloud hosting. The company operates five proprietary mining datacenters in the United States and Norway.
After a thorough review of the options trading surrounding Bitdeer Technologies, we move to examine the company in more detail. This includes an assessment of its current market status and performance.
Current Position of Bitdeer Technologies
- With a volume of 2,339,022, the price of BTDR is down -11.89% at $6.81.
- RSI indicators hint that the underlying stock may be approaching oversold.
- Next earnings are expected to be released in 88 days.
Expert Opinions on Bitdeer Technologies
In the last month, 5 experts released ratings on this stock with an average target price of $14.4.
- Maintaining their stance, an analyst from Benchmark continues to hold a Buy rating for Bitdeer Technologies, targeting a price of $16.
- Reflecting concerns, an analyst from Rosenblatt lowers its rating to Buy with a new price target of $9.
- Reflecting concerns, an analyst from Benchmark lowers its rating to Buy with a new price target of $16.
- An analyst from Needham has revised its rating downward to Buy, adjusting the price target to $14.
- An analyst from HC Wainwright & Co. has decided to maintain their Buy rating on Bitdeer Technologies, which currently sits at a price target of $17.
Trading options involves greater risks but also offers the potential for higher profits. Savvy traders mitigate these risks through ongoing education, strategic trade adjustments, utilizing various indicators, and staying attuned to market dynamics. Keep up with the latest options trades for Bitdeer Technologies with Benzinga Pro for real-time alerts.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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