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 20 uncommon options trades for Cleanspark.
This isn't normal.
The overall sentiment of these big-money traders is split between 40% bullish and 50%, bearish.
Out of all of the special options we uncovered, 3 are puts, for a total amount of $155,075, and 17 are calls, for a total amount of $786,619.
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 $15.0 to $30.0 for Cleanspark over the last 3 months.
Insights into Volume & Open Interest
In terms of liquidity and interest, the mean open interest for Cleanspark options trades today is 5536.53 with a total volume of 19,065.00.
In the following chart, we are able to follow the development of volume and open interest of call and put options for Cleanspark's big money trades within a strike price range of $15.0 to $30.0 over the last 30 days.
Cleanspark 30-Day Option Volume & Interest Snapshot
Significant Options Trades Detected:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| CLSK | CALL | TRADE | BEARISH | 08/02/24 | $2.59 | $2.46 | $2.5 | $17.00 | $125.0K | 1.9K | 576 |
| CLSK | PUT | TRADE | BEARISH | 08/30/24 | $4.0 | $3.65 | $4.0 | $20.00 | $80.0K | 26 | 200 |
| CLSK | CALL | TRADE | BULLISH | 07/26/24 | $1.8 | $1.76 | $1.8 | $17.00 | $70.0K | 1.4K | 1.2K |
| CLSK | CALL | SWEEP | BEARISH | 08/16/24 | $0.49 | $0.45 | $0.45 | $30.00 | $67.0K | 28.1K | 3.8K |
| CLSK | CALL | SWEEP | BULLISH | 08/16/24 | $0.49 | $0.45 | $0.45 | $30.00 | $60.8K | 28.1K | 2.3K |
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.
After a thorough review of the options trading surrounding Cleanspark, we move to examine the company in more detail. This includes an assessment of its current market status and performance.
Cleanspark's Current Market Status
- Currently trading with a volume of 15,807,578, the CLSK's price is up by 1.88%, now at $18.47.
- RSI readings suggest the stock is currently may be approaching overbought.
- Anticipated earnings release is in 15 days.
Expert Opinions on Cleanspark
In the last month, 2 experts released ratings on this stock with an average target price of $27.5.
- In a cautious move, an analyst from HC Wainwright & Co. downgraded its rating to Buy, setting a price target of $27.
- Maintaining their stance, an analyst from Cantor Fitzgerald continues to hold a Overweight rating for Cleanspark, targeting a price of $28.
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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