Deep-pocketed investors have adopted a bearish 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 11 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 36% leaning bullish and 63% bearish. Among these notable options, 3 are puts, totaling $253,958, and 8 are calls, amounting to $305,176.
Expected Price Movements
Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $20.0 to $37.0 for Hut 8 over the last 3 months.
Volume & Open Interest Trends
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 $20.0 to $37.0 over the preceding 30 days.
Hut 8 30-Day Option Volume & Interest Snapshot
Significant Options Trades Detected:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| HUT | PUT | SWEEP | BEARISH | 01/16/26 | $9.55 | $9.25 | $9.55 | $25.00 | $191.0K | 138 | 200 |
| HUT | CALL | SWEEP | BEARISH | 02/21/25 | $2.09 | $1.75 | $1.97 | $25.00 | $62.0K | 323 | 536 |
| HUT | CALL | SWEEP | BULLISH | 01/17/25 | $1.0 | $0.91 | $1.0 | $23.00 | $52.2K | 240 | 928 |
| HUT | CALL | TRADE | BULLISH | 01/17/25 | $1.0 | $0.91 | $0.98 | $23.00 | $36.9K | 240 | 406 |
| HUT | CALL | SWEEP | BEARISH | 02/21/25 | $1.98 | $1.95 | $1.95 | $25.00 | $36.0K | 323 | 221 |
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.
Where Is Hut 8 Standing Right Now?
- Trading volume stands at 2,729,527, with HUT's price down by -3.89%, positioned at $22.49.
- RSI indicators show the stock to be may be approaching oversold.
- Earnings announcement expected in 73 days.
What The Experts Say On Hut 8
In the last month, 5 experts released ratings on this stock with an average target price of $37.0.
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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. * Consistent in their evaluation, an analyst from Needham keeps a Buy rating on Hut 8 with a target price of $38. * In a cautious move, an analyst from Needham downgraded its rating to Buy, setting a price target of $38. * Reflecting concerns, an analyst from Cantor Fitzgerald lowers its rating to Overweight with a new price target of $35. * Reflecting concerns, an analyst from Benchmark lowers its rating to Buy with a new price target of $41. * In a cautious move, an analyst from Piper Sandler downgraded its rating to Overweight, setting a price target of $33.
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.
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