Deep-pocketed investors have adopted a bullish approach towards Hut 8 HUT, and it's something market players shouldn't ignore. Our tracking of public options records at Benzinga unveiled this significant move today. The identity of these investors remains unknown, but such a substantial move in HUT usually suggests something big is about to happen.
We gleaned this information from our observations today when Benzinga's options scanner highlighted 13 extraordinary options activities for Hut 8. This level of activity is out of the ordinary.
The general mood among these heavyweight investors is divided, with 53% leaning bullish and 30% bearish. Among these notable options, 5 are puts, totaling $215,566, and 8 are calls, amounting to $311,355.
Expected Price Movements
Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $10.0 to $35.0 for Hut 8 during the past quarter.
Insights into Volume & Open Interest
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 Hut 8'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 Hut 8's whale trades within a strike price range from $10.0 to $35.0 in the last 30 days.
Hut 8 Call and Put Volume: 30-Day Overview
Largest Options Trades Observed:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| HUT | PUT | TRADE | BULLISH | 08/16/24 | $5.0 | $3.8 | $4.0 | $19.00 | $80.0K | 371 | 210 |
| HUT | CALL | TRADE | NEUTRAL | 08/02/24 | $7.8 | $4.3 | $5.8 | $10.00 | $58.0K | 11 | 100 |
| HUT | CALL | TRADE | BULLISH | 08/02/24 | $2.5 | $2.4 | $2.5 | $14.00 | $50.0K | 180 | 400 |
| HUT | CALL | TRADE | BULLISH | 08/02/24 | $2.37 | $2.12 | $2.37 | $14.00 | $47.4K | 180 | 200 |
| HUT | CALL | TRADE | BEARISH | 01/16/26 | $5.35 | $4.35 | $4.35 | $35.00 | $43.4K | 3.6K | 147 |
About Hut 8
Hut 8 Corp is engaged in the mining of digital assets with an operational focus on utilizing specialized equipment to solve complex computational problems to validate transactions on the Bitcoin blockchain and receiving Bitcoin in return for successful services. The company has four reportable business segments: Digital Assets Mining, Managed Services, High Performance Computing -Colocation and Cloud, and Other. It derives maximum revenue from Digital Assets Mining segment.
After a thorough review of the options trading surrounding Hut 8, we move to examine the company in more detail. This includes an assessment of its current market status and performance.
Where Is Hut 8 Standing Right Now?
- With a volume of 5,667,278, the price of HUT is down -13.82% at $15.53.
- RSI indicators hint that the underlying stock is currently neutral between overbought and oversold.
- Next earnings are expected to be released in 19 days.
Expert Opinions on Hut 8
In the last month, 1 experts released ratings on this stock with an average target price of $22.0.
- An analyst from Canaccord Genuity persists with their Buy rating on Hut 8, maintaining a target price of $22.
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 Hut 8, Benzinga Pro gives you real-time options trades alerts.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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