Investors with a lot of money to spend have taken a bearish stance on Core Scientific CORZ.
And retail traders should know.
We noticed this today when the trades showed up on publicly available options history that we track here at Benzinga.
Whether these are institutions or just wealthy individuals, we don't know. But when something this big happens with CORZ, it often means somebody knows something is about to happen.
So how do we know what these investors just did?
Today, Benzinga's options scanner spotted 14 uncommon options trades for Core Scientific.
This isn't normal.
The overall sentiment of these big-money traders is split between 28% bullish and 71%, bearish.
Out of all of the special options we uncovered, 3 are puts, for a total amount of $136,015, and 11 are calls, for a total amount of $674,025.
Expected Price Movements
Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $8.0 to $11.0 for Core Scientific over the recent three months.
Volume & Open Interest Development
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 $8.0 to $11.0 in the last 30 days.
Core Scientific Option Activity Analysis: Last 30 Days
Biggest Options Spotted:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| CORZ | CALL | SWEEP | BEARISH | 09/06/24 | $1.1 | $1.0 | $1.0 | $9.00 | $138.2K | 4.0K | 2.6K |
| CORZ | CALL | SWEEP | BEARISH | 09/06/24 | $1.05 | $1.0 | $1.0 | $9.00 | $100.0K | 4.0K | 1.6K |
| CORZ | CALL | SWEEP | BEARISH | 09/06/24 | $1.05 | $0.95 | $0.95 | $9.00 | $99.1K | 4.0K | 2.6K |
| CORZ | CALL | SWEEP | BULLISH | 08/30/24 | $0.3 | $0.25 | $0.3 | $10.50 | $61.8K | 9.4K | 2.0K |
| CORZ | PUT | SWEEP | BEARISH | 09/20/24 | $0.45 | $0.45 | $0.45 | $9.00 | $56.0K | 5.9K | 1.3K |
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.
Following our analysis of the options activities associated with Core Scientific, we pivot to a closer look at the company's own performance.
Where Is Core Scientific Standing Right Now?
- With a trading volume of 4,126,392, the price of CORZ is down by -4.08%, reaching $9.99.
- Current RSI values indicate that the stock is may be approaching overbought.
- Next earnings report is scheduled for 77 days from now.
What The Experts Say On Core Scientific
Over the past month, 1 industry analysts have shared their insights on this stock, proposing an average target price of $20.0.
- In a cautious move, an analyst from Cantor Fitzgerald downgraded its rating to Overweight, setting a price target of $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.
Comments
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
