Hut 8's Options: A Look at What the Big Money is Thinking

Investors with a lot of money to spend have taken a bullish stance on Hut 8 HUT.

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 HUT, 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 15 uncommon options trades for Hut 8.

This isn't normal.

The overall sentiment of these big-money traders is split between 60% bullish and 33%, bearish.

Out of all of the special options we uncovered, 2 are puts, for a total amount of $97,194, and 13 are calls, for a total amount of $1,360,428.

Expected Price Movements

After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $21.0 and $45.0 for Hut 8, spanning the last three months.

Volume & Open Interest Development

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 Hut 8'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 Hut 8's whale trades within a strike price range from $21.0 to $45.0 in the last 30 days.

Hut 8 Call and Put Volume: 30-Day Overview

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.

Following our analysis of the options activities associated with Hut 8, we pivot to a closer look at the company's own performance.

Where Is Hut 8 Standing Right Now?

• Currently trading with a volume of 4,767,766, the HUT's price is down by -5.66%, now at $25.16.
• RSI readings suggest the stock is currently may be approaching overbought.
• Anticipated earnings release is in 79 days.

Expert Opinions on Hut 8

5 market experts have recently issued ratings for this stock, with a consensus target price of $35.8.

Turn $1000 into $1270 in just 20 days?

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. * An analyst from Cantor Fitzgerald downgraded its action to Overweight with a price target of $35. * Reflecting concerns, an analyst from Jones Trading lowers its rating to Buy with a new price target of $36. * In a cautious move, an analyst from Cantor Fitzgerald downgraded its rating to Overweight, setting a price target of $35. * An analyst from Needham has decided to maintain their Buy rating on Hut 8, which currently sits at a price target of $38. * In a cautious move, an analyst from Cantor Fitzgerald downgraded its rating to Overweight, setting a price target of $35.

Options trading presents higher risks and potential rewards. Astute traders manage these risks by continually educating themselves, adapting their strategies, monitoring multiple indicators, and keeping a close eye on market movements. Stay informed about the latest Hut 8 options trades with real-time alerts from Benzinga Pro.