Applied Digital Unusual Options Activity For October 10

Deep-pocketed investors have adopted a bullish approach towards Applied Digital APLD, 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 APLD usually suggests something big is about to happen.

We gleaned this information from our observations today when Benzinga's options scanner highlighted 8 extraordinary options activities for Applied Digital. This level of activity is out of the ordinary.

The general mood among these heavyweight investors is divided, with 62% leaning bullish and 37% bearish. Among these notable options, 2 are puts, totaling $125,000, and 6 are calls, amounting to $403,992.

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 $7.0 to $8.0 for Applied Digital during the past quarter.

Volume & Open Interest Trends

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 Applied 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 Applied Digital's whale activity within a strike price range from $7.0 to $8.0 in the last 30 days.

Applied Digital Call and Put Volume: 30-Day Overview

Biggest Options Spotted:

About Applied Digital

Applied Digital Corp is a designer, developer, and operator of next-generation digital infrastructure across North America. It provides digital infrastructure solutions and cloud services to industries like High-Performance Computing (HPC) and Artificial Intelligence (AI). The company operates in the following business segments; Data Center Hosting Business, Cloud Services Business, and HPC Hosting Business. The majority of its revenue is generated from the Data Center Hosting Business which operates data centers to provide energized space to crypto mining customers.

Having examined the options trading patterns of Applied Digital, our attention now turns directly to the company. This shift allows us to delve into its present market position and performance

Current Position of Applied Digital

• Trading volume stands at 24,231,556, with APLD's price down by -6.77%, positioned at $6.9.
• RSI indicators show the stock to be may be approaching overbought.
• Earnings announcement expected in 96 days.

What The Experts Say On Applied Digital

Over the past month, 5 industry analysts have shared their insights on this stock, proposing an average target price of $10.6.

Unusual Options Activity Detected: Smart Money on the Move

Benzinga Edge's Unusual Options board spots potential market movers before they happen. See what positions big money is taking on your favorite stocks. Click here for access. * An analyst from Roth MKM has revised its rating downward to Buy, adjusting the price target to $10. * Consistent in their evaluation, an analyst from Lake Street keeps a Buy rating on Applied Digital with a target price of $11. * Maintaining their stance, an analyst from B. Riley Securities continues to hold a Buy rating for Applied Digital, targeting a price of $9. * An analyst from Needham downgraded its action to Buy with a price target of $11. * Maintaining their stance, an analyst from Craig-Hallum continues to hold a Buy rating for Applied Digital, targeting a price of $12.

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 Applied Digital with Benzinga Pro for real-time alerts.