Investors with a lot of money to spend have taken a bullish stance on Cipher Mining CIFR.
And retail traders should know.
We noticed this today when the positions 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 CIFR, it often means somebody knows something is about to happen.
Today, Benzinga's options scanner spotted 8 options trades for Cipher Mining.
This isn't normal.
The overall sentiment of these big-money traders is split between 50% bullish and 37%, bearish.
Out of all of the options we uncovered, there was 1 put, for a total amount of $31,250, and 7, calls, for a total amount of $298,106.
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 $4.0 to $8.0 for Cipher Mining over the last 3 months.
Volume & Open Interest Development
Looking at the volume and open interest is an insightful way to conduct due diligence on a stock.
This data can help you track the liquidity and interest for Cipher Mining'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 Cipher Mining's whale activity within a strike price range from $4.0 to $8.0 in the last 30 days.
Cipher Mining 30-Day Option Volume & Interest Snapshot
Biggest Options Spotted:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| CIFR | CALL | SWEEP | BEARISH | 09/20/24 | $2.8 | $2.7 | $2.7 | $4.00 | $67.5K | 5.5K | 747 |
| CIFR | CALL | SWEEP | BEARISH | 09/20/24 | $2.65 | $2.6 | $2.6 | $4.00 | $51.4K | 5.5K | 290 |
| CIFR | CALL | SWEEP | BULLISH | 09/20/24 | $2.7 | $2.7 | $2.7 | $4.00 | $43.2K | 5.5K | 542 |
| CIFR | CALL | SWEEP | BULLISH | 09/20/24 | $2.75 | $2.35 | $2.6 | $4.00 | $41.8K | 5.5K | 0 |
| CIFR | CALL | TRADE | BULLISH | 01/17/25 | $1.85 | $1.7 | $1.85 | $8.00 | $37.0K | 393 | 5 |
About Cipher Mining
Cipher Mining Inc ia an emerging technology company that operates in the Bitcoin mining ecosystem in the United States. The company is developing a cryptocurrency mining business, specializing in Bitcoin. The company is expanding and strengthening the Bitcoin network's critical infrastructure in the United States.
Current Position of Cipher Mining
- With a volume of 7,394,242, the price of CIFR is up 8.27% at $6.47.
- RSI indicators hint that the underlying stock may be approaching overbought.
- Next earnings are expected to be released in 21 days.
Options are a riskier asset compared to just trading the stock, but they have higher profit potential. Serious options traders manage this risk by educating themselves daily, scaling in and out of trades, following more than one indicator, and following the markets closely.
If you want to stay updated on the latest options trades for Cipher Mining, Benzinga Pro gives you real-time options trades alerts.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Date of Trade | ticker | Put/Call | Strike Price | DTE | Sentiment |
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