Spotlight on Core Scientific: Analyzing the Surge in Options Activity

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 11 uncommon options trades for Core Scientific.

This isn't normal.

The overall sentiment of these big-money traders is split between 18% bullish and 72%, bearish.

Out of all of the special options we uncovered, 2 are puts, for a total amount of $94,395, and 9 are calls, for a total amount of $475,709.

What's The Price Target?

Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $7.5 to $14.0 for Core Scientific over the recent three months.

Insights into Volume & Open Interest

In terms of liquidity and interest, the mean open interest for Core Scientific options trades today is 4523.0 with a total volume of 14,817.00.

In the following chart, we are able to follow the development of volume and open interest of call and put options for Core Scientific's big money trades within a strike price range of $7.5 to $14.0 over the last 30 days.

Core Scientific 30-Day Option Volume & Interest Snapshot

Noteworthy Options Activity:

About Core Scientific

Core Scientific Inc is engaged in designing, building and operating digital infrastructure for high-performance computing. The business operates in three operating segments; Digital Asset Self-Mining, consisting of performing digital asset mining for the own account, Digital Asset Hosted Mining, consisting of providing hosting services to third parties for digital asset mining, and HPC Hosting, consisting of providing hosting services to third parties for graphics processing unit (GPU) based HPC hosting operations. The majority of revenue is derived from the Digital Asset Self-Mining Segment.

Where Is Core Scientific Standing Right Now?

• With a volume of 16,997,200, the price of CORZ is down -1.04% at $8.59.
• RSI indicators hint that the underlying stock may be approaching oversold.
• Next earnings are expected to be released in 48 days.

Professional Analyst Ratings for Core Scientific

A total of 5 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $17.6.

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. * Reflecting concerns, an analyst from HC Wainwright & Co. lowers its rating to Buy with a new price target of $17. * An analyst from Needham persists with their Buy rating on Core Scientific, maintaining a target price of $17. * An analyst from Canaccord Genuity persists with their Buy rating on Core Scientific, maintaining a target price of $17. * Maintaining their stance, an analyst from Canaccord Genuity continues to hold a Buy rating for Core Scientific, targeting a price of $17. * Consistent in their evaluation, an analyst from Compass Point keeps a Buy rating on Core Scientific with a target price of $20.

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 Core Scientific options trades with real-time alerts from Benzinga Pro.