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 21 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 52% leaning bullish and 28% bearish. Among these notable options, 3 are puts, totaling $108,900, and 18 are calls, amounting to $745,093.
Predicted Price Range
Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $20.0 to $45.0 for Hut 8 during the past quarter.
Analyzing Volume & Open Interest
In terms of liquidity and interest, the mean open interest for Hut 8 options trades today is 1227.31 with a total volume of 8,578.00.
In the following chart, we are able to follow the development of volume and open interest of call and put options for Hut 8's big money trades within a strike price range of $20.0 to $45.0 over the last 30 days.
Hut 8 Option Volume And Open Interest Over Last 30 Days
Largest Options Trades Observed:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| HUT | CALL | SWEEP | BULLISH | 12/20/24 | $4.0 | $2.89 | $4.0 | $28.00 | $80.4K | 822 | 216 |
| HUT | CALL | SWEEP | BULLISH | 03/21/25 | $12.0 | $11.65 | $11.65 | $20.00 | $69.9K | 156 | 60 |
| HUT | CALL | TRADE | BULLISH | 12/13/24 | $1.24 | $1.23 | $1.24 | $30.00 | $62.0K | 2.0K | 546 |
| HUT | CALL | SWEEP | BULLISH | 01/16/26 | $11.5 | $11.5 | $11.5 | $30.00 | $48.3K | 1.2K | 10 |
| HUT | CALL | TRADE | BULLISH | 12/27/24 | $2.3 | $2.29 | $2.3 | $30.00 | $47.6K | 937 | 654 |
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.
Current Position of Hut 8
- Currently trading with a volume of 9,394,593, the HUT's price is up by 5.25%, now at $28.09.
- RSI readings suggest the stock is currently may be approaching overbought.
- Anticipated earnings release is in 105 days.
What Analysts Are Saying About Hut 8
A total of 5 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $32.8.
Unusual Options Activity Detected: Smart Money on the Move
Benzinga Edge's Unusual Options board spots potential market movers before they happen. See what positions big money is taking on your favorite stocks. Click here for access. * In a cautious move, an analyst from Jones Trading downgraded its rating to Buy, setting a price target of $36. * An analyst from Benchmark has decided to maintain their Buy rating on Hut 8, which currently sits at a price target of $32. * Maintaining their stance, an analyst from Craig-Hallum continues to hold a Buy rating for Hut 8, targeting a price of $32. * Maintaining their stance, an analyst from Needham continues to hold a Buy rating for Hut 8, targeting a price of $32. * Maintaining their stance, an analyst from Canaccord Genuity continues to hold a Buy rating for Hut 8, targeting a price of $32.
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 Hut 8 options trades with real-time alerts from Benzinga Pro.
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