Investors with a lot of money to spend have taken a bearish stance on Cleanspark CLSK.
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 CLSK, 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 27 uncommon options trades for Cleanspark.
This isn't normal.
The overall sentiment of these big-money traders is split between 25% bullish and 74%, bearish.
Out of all of the special options we uncovered, 3 are puts, for a total amount of $188,500, and 24 are calls, for a total amount of $1,253,697.
Projected Price Targets
Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $5.0 to $22.5 for Cleanspark over the recent three months.
Volume & Open Interest Trends
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 Cleanspark'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 Cleanspark's whale trades within a strike price range from $5.0 to $22.5 in the last 30 days.
Cleanspark Call and Put Volume: 30-Day Overview
Noteworthy Options Activity:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| CLSK | CALL | TRADE | BULLISH | 06/21/24 | $7.50 | $238.0K | 5.6K | 307 |
| CLSK | CALL | SWEEP | BEARISH | 03/15/24 | $14.00 | $117.0K | 1.3K | 649 |
| CLSK | PUT | SWEEP | BEARISH | 02/16/24 | $14.00 | $105.0K | 1.7K | 32 |
| CLSK | CALL | SWEEP | BEARISH | 02/16/24 | $9.00 | $87.7K | 1.4K | 145 |
| CLSK | CALL | TRADE | BEARISH | 06/21/24 | $10.00 | $85.6K | 4.1K | 344 |
About Cleanspark
Cleanspark Inc is a bitcoin mining company. Through CleanSpark, Inc., and the Company's wholly owned subsidiaries, the company mines bitcoin. The company entered the bitcoin mining industry through its acquisition of ATL. Bitcoin mining is the sole reportable segment of the company.
Following our analysis of the options activities associated with Cleanspark, we pivot to a closer look at the company's own performance.
Where Is Cleanspark Standing Right Now?
- Currently trading with a volume of 23,522,383, the CLSK's price is down by -10.15%, now at $14.38.
- RSI readings suggest the stock is currently may be overbought.
- Anticipated earnings release is in 85 days.
Professional Analyst Ratings for Cleanspark
1 market experts have recently issued ratings for this stock, with a consensus target price of $14.0.
- Reflecting concerns, an analyst from HC Wainwright & Co. lowers its rating to Buy with a new price target of $14.
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 Cleanspark with Benzinga Pro for real-time alerts.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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