High-rolling investors have positioned themselves bullish 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 16 options trades for Core Scientific. This is not a typical pattern.
The sentiment among these major traders is split, with 75% bullish and 25% bearish. Among all the options we identified, there was one put, amounting to $62,415, and 15 calls, totaling $419,120.
Expected Price Movements
After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $9.5 and $14.5 for Core Scientific, spanning the last three months.
Analyzing Volume & Open Interest
Assessing the volume and open interest is a strategic step in options trading. These metrics shed light on the liquidity and investor interest in Core Scientific's options at specified strike prices. The forthcoming data visualizes the fluctuation in volume and open interest for both calls and puts, linked to Core Scientific's substantial trades, within a strike price spectrum from $9.5 to $14.5 over the preceding 30 days.
Core Scientific Option Volume And Open Interest Over Last 30 Days
Noteworthy Options Activity:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| CORZ | PUT | SWEEP | BULLISH | 08/16/24 | $4.1 | $4.0 | $4.0 | $14.50 | $62.4K | 0 | 156 |
| CORZ | CALL | SWEEP | BULLISH | 08/09/24 | $1.55 | $1.45 | $1.55 | $9.50 | $31.0K | 11 | 2.7K |
| CORZ | CALL | SWEEP | BULLISH | 08/09/24 | $1.55 | $1.5 | $1.55 | $9.50 | $30.9K | 11 | 2.9K |
| CORZ | CALL | SWEEP | BULLISH | 08/09/24 | $1.5 | $1.4 | $1.5 | $9.50 | $30.0K | 11 | 2.5K |
| CORZ | CALL | TRADE | BEARISH | 08/09/24 | $1.55 | $1.5 | $1.5 | $9.50 | $30.0K | 11 | 1.6K |
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.
Having examined the options trading patterns of Core Scientific, our attention now turns directly to the company. This shift allows us to delve into its present market position and performance
Current Position of Core Scientific
- With a volume of 1,537,420, the price of CORZ is up 2.6% at $10.48.
- RSI indicators hint that the underlying stock may be approaching overbought.
- Next earnings are expected to be released in 15 days.
What Analysts Are Saying About Core Scientific
Over the past month, 5 industry analysts have shared their insights on this stock, proposing an average target price of $15.5.
- Reflecting concerns, an analyst from Cantor Fitzgerald lowers its rating to Overweight with a new price target of $20.
- In a cautious move, an analyst from HC Wainwright & Co. downgraded its rating to Buy, setting a price target of $15.
- Maintaining their stance, an analyst from HC Wainwright & Co. continues to hold a Buy rating for Core Scientific, targeting a price of $15.
- An analyst from B. Riley Securities has elevated its stance to Buy, setting a new price target at $13.
- An analyst from Ladenburg Thalmann downgraded its action to Buy with a price target of $14.
Options trading presents higher risks and potential rewards. Astute traders manage these risks by continually educating themselves, adapting their strategies, monitoring multiple indicators, and keeping a close eye on market movements. Stay informed about the latest Core Scientific options trades with real-time alerts from Benzinga Pro.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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