Behind the Scenes of Hut 8's Latest Options Trends

Deep-pocketed investors have adopted a bullish approach towards Hut 8 HUT, 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 HUT usually suggests something big is about to happen.

We gleaned this information from our observations today when Benzinga's options scanner highlighted 49 extraordinary options activities for Hut 8. This level of activity is out of the ordinary.

The general mood among these heavyweight investors is divided, with 51% leaning bullish and 44% bearish. Among these notable options, 4 are puts, totaling $183,181, and 45 are calls, amounting to $2,900,952.

Expected Price Movements

Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $17.0 to $36.0 for Hut 8 over the recent three months.

Analyzing Volume & Open Interest

Assessing the volume and open interest is a strategic step in options trading. These metrics shed light on the liquidity and investor interest in Hut 8's options at specified strike prices. The forthcoming data visualizes the fluctuation in volume and open interest for both calls and puts, linked to Hut 8's substantial trades, within a strike price spectrum from $17.0 to $36.0 over the preceding 30 days.

Hut 8 30-Day Option Volume & Interest Snapshot

Noteworthy Options Activity:

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.

Hut 8's Current Market Status

• With a trading volume of 6,202,830, the price of HUT is up by 8.86%, reaching $26.3.
• Current RSI values indicate that the stock is may be approaching overbought.
• Next earnings report is scheduled for 80 days from now.

Expert Opinions on Hut 8

5 market experts have recently issued ratings for this stock, with a consensus target price of $35.4.

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20-year pro options trader reveals his one-line chart technique that shows when to buy and sell. Copy his trades, which have had averaged a 27% profit every 20 days. Click here for access. * Maintaining their stance, an analyst from Needham continues to hold a Buy rating for Hut 8, targeting a price of $38. * In a cautious move, an analyst from Cantor Fitzgerald downgraded its rating to Overweight, setting a price target of $35. * In a cautious move, an analyst from Piper Sandler downgraded its rating to Overweight, setting a price target of $33. * In a cautious move, an analyst from Jones Trading downgraded its rating to Buy, setting a price target of $36. * An analyst from Cantor Fitzgerald has revised its rating downward to Overweight, adjusting the price target to $35.

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 Hut 8 with Benzinga Pro for real-time alerts.