High-rolling investors have positioned themselves bearish on Core Scientific CORZ, and it's important for retail traders to take note. \This activity came to our attention today through Benzinga's tracking of publicly available options data. The identities of these investors are uncertain, but such a significant move in CORZ often signals that someone has privileged information.
Today, Benzinga's options scanner spotted 13 options trades for Core Scientific. This is not a typical pattern.
The sentiment among these major traders is split, with 38% bullish and 61% bearish. Among all the options we identified, there was one put, amounting to $52,000, and 12 calls, totaling $773,790.
What's The Price Target?
Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $5.0 to $20.0 for Core Scientific over the last 3 months.
Volume & Open Interest Trends
In today's trading context, the average open interest for options of Core Scientific stands at 8933.67, with a total volume reaching 7,164.00. The accompanying chart delineates the progression of both call and put option volume and open interest for high-value trades in Core Scientific, situated within the strike price corridor from $5.0 to $20.0, throughout the last 30 days.
Core Scientific Option Volume And Open Interest Over Last 30 Days
Significant Options Trades Detected:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| CORZ | CALL | TRADE | BULLISH | 09/20/24 | $0.75 | $0.65 | $0.725 | $15.00 | $203.0K | 11.3K | 178 |
| CORZ | CALL | TRADE | BULLISH | 07/19/24 | $5.1 | $4.6 | $5.1 | $6.00 | $101.9K | 829 | 0 |
| CORZ | CALL | SWEEP | BULLISH | 01/17/25 | $0.95 | $0.9 | $0.95 | $20.00 | $95.0K | 14.0K | 1.0K |
| CORZ | CALL | TRADE | BEARISH | 07/19/24 | $1.6 | $1.5 | $1.5 | $10.00 | $60.3K | 20.6K | 137 |
| CORZ | CALL | TRADE | BEARISH | 07/19/24 | $0.5 | $0.45 | $0.45 | $11.50 | $57.6K | 5.7K | 225 |
About Core Scientific
Core Scientific Inc is engaged in Blockchain and AI Infrastructure, Digital Asset Self-Mining, Premium Hosting, Blockchain Technology, and Artificial Intelligence related services. The business operates in two segments being; Equipment Sales and Hosting which consists of blockchain infrastructure, third-party hosting business and equipment sales to customers. Mining segment consists of digital asset mining for its account. The blockchain business generates revenue from the sale of consumption-based contracts and by providing hosting services. The digital asset mining segment earns revenue from operating a firm's owned computer equipment as part of a pool of users that process transactions conducted on one or more blockchain networks. In exchange, it receives digital currency assets.
Following our analysis of the options activities associated with Core Scientific, we pivot to a closer look at the company's own performance.
Current Position of Core Scientific
- Currently trading with a volume of 2,111,757, the CORZ's price is up by 4.41%, now at $11.49.
- RSI readings suggest the stock is currently may be overbought.
- Anticipated earnings release is in 28 days.
What The Experts Say On Core Scientific
Over the past month, 5 industry analysts have shared their insights on this stock, proposing an average target price of $14.6.
- An analyst from HC Wainwright & Co. has revised its rating downward to Buy, adjusting the price target to $15.
- Maintaining their stance, an analyst from HC Wainwright & Co. continues to hold a Buy rating for Core Scientific, targeting a price of $11.
- Maintaining their stance, an analyst from BTIG continues to hold a Buy rating for Core Scientific, targeting a price of $15.
- An analyst from Bernstein downgraded its action to Outperform with a price target of $17.
- An analyst from HC Wainwright & Co. has decided to maintain their Buy rating on Core Scientific, which currently sits at a price target of $15.
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 Core Scientific with Benzinga Pro for real-time alerts.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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Date of Trade | ticker | Put/Call | Strike Price | DTE | Sentiment |
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