Spotlight on IonQ: Analyzing the Surge in Options Activity

Investors with a lot of money to spend have taken a bearish stance on IonQ IONQ.

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 IONQ, 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 IonQ.

This isn't normal.

The overall sentiment of these big-money traders is split between 27% bullish and 63%, bearish.

Out of all of the special options we uncovered, 6 are puts, for a total amount of $354,975, and 5 are calls, for a total amount of $544,501.

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 $20.0 and $30.0 for IonQ, spanning the last three months.

Volume & Open Interest Trends

In terms of liquidity and interest, the mean open interest for IonQ options trades today is 4052.22 with a total volume of 4,117.00.

In the following chart, we are able to follow the development of volume and open interest of call and put options for IonQ's big money trades within a strike price range of $20.0 to $30.0 over the last 30 days.

IonQ 30-Day Option Volume & Interest Snapshot

Largest Options Trades Observed:

About IonQ

IonQ Inc sells access to several quantum computers of various qubit capacities and is in the process of researching and developing technologies for quantum computers with increasing computational capabilities. The company currently makes access to its quantum computers available via cloud platforms and also to select customers via its own cloud service. This cloud-based approach enables the broad availability of quantum-computing-as-a-service (QCaaS). The company derives its revenue from its quantum-computing-as-a-service arrangements, consulting services related to co-developing algorithms on company's quantum computing systems and contracts associated with the design, development, and construction of specialized quantum computing systems together with related services.

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

IonQ's Current Market Status

• Trading volume stands at 12,202,678, with IONQ's price up by 10.78%, positioned at $24.45.
• RSI indicators show the stock to be may be approaching overbought.
• Earnings announcement expected in 36 days.

What Analysts Are Saying About IonQ

Over the past month, 1 industry analysts have shared their insights on this stock, proposing an average target price of $45.0.

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. * In a cautious move, an analyst from Benchmark downgraded its rating to Buy, setting a price target of $45.

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 IonQ options trades with real-time alerts from Benzinga Pro.