Investors with significant funds have taken a bearish position in Bitdeer Technologies BTDR, a development that retail traders should be aware of.
This was brought to our attention today through our monitoring of publicly accessible options data at Benzinga. The exact nature of these investors remains a mystery, but such a major move in BTDR usually indicates foreknowledge of upcoming events.
Today, Benzinga's options scanner identified 11 options transactions for Bitdeer Technologies. This is an unusual occurrence. The sentiment among these large-scale traders is mixed, with 18% being bullish and 72% bearish. Of all the options we discovered, 10 are puts, valued at $647,878, and there was a single call, worth $36,540.
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 $17.5 for Bitdeer Technologies over the last 3 months.
Volume & Open Interest Trends
In today's trading context, the average open interest for options of Bitdeer Technologies stands at 364.0, with a total volume reaching 17,200.00. The accompanying chart delineates the progression of both call and put option volume and open interest for high-value trades in Bitdeer Technologies, situated within the strike price corridor from $15.0 to $17.5, throughout the last 30 days.
Bitdeer Technologies Call and Put Volume: 30-Day Overview
Significant Options Trades Detected:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| BTDR | PUT | TRADE | BEARISH | 02/07/25 | $1.35 | $1.15 | $1.3 | $17.50 | $130.0K | 505 | 1.0K |
| BTDR | PUT | TRADE | BEARISH | 02/07/25 | $1.3 | $0.95 | $1.25 | $17.00 | $125.0K | 59 | 1.0K |
| BTDR | PUT | TRADE | BULLISH | 02/07/25 | $0.95 | $0.8 | $0.85 | $16.00 | $85.0K | 632 | 2.0K |
| BTDR | PUT | SWEEP | BEARISH | 02/07/25 | $0.75 | $0.6 | $0.75 | $16.00 | $74.4K | 632 | 1.0K |
| BTDR | PUT | SWEEP | BEARISH | 02/07/25 | $0.8 | $0.75 | $0.8 | $16.00 | $56.0K | 632 | 2.7K |
About Bitdeer Technologies
Bitdeer Technologies Group is principally engaged in provision of digital asset mining services. Its majority business segments are: proprietary mining, cloud hash rate sharing and cloud hosting. The company operates five proprietary mining datacenters in the United States and Norway.
Following our analysis of the options activities associated with Bitdeer Technologies, we pivot to a closer look at the company's own performance.
Current Position of Bitdeer Technologies
- With a trading volume of 4,273,977, the price of BTDR is down by -6.86%, reaching $17.25.
- Current RSI values indicate that the stock is is currently neutral between overbought and oversold.
- Next earnings report is scheduled for 52 days from now.
What The Experts Say On Bitdeer Technologies
4 market experts have recently issued ratings for this stock, with a consensus target price of $22.5.
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20-year pro options trader reveals his one-line chart technique that shows when to buy and sell. Copy his trades, which have had averaged a 27% profit every 20 days. Click here for access. * Consistent in their evaluation, an analyst from Needham keeps a Buy rating on Bitdeer Technologies with a target price of $22. * In a cautious move, an analyst from Needham downgraded its rating to Buy, setting a price target of $22. * An analyst from Rosenblatt has decided to maintain their Buy rating on Bitdeer Technologies, which currently sits at a price target of $22. * Maintaining their stance, an analyst from Northland Capital Markets continues to hold a Outperform rating for Bitdeer Technologies, targeting a price of $24.
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 Bitdeer Technologies options trades with real-time alerts from Benzinga Pro.
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