Cipher Mining's Options: A Look at What the Big Money is Thinking

Investors with a lot of money to spend have taken a bullish stance on Cipher Mining (NASDAQ:CIFR).

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 CIFR, 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 86 uncommon options trades for Cipher Mining.

This isn't normal.

The overall sentiment of these big-money traders is split between 48% bullish and 37%, bearish.

Out of all of the special options we uncovered, 8 are puts, for a total amount of $586,664, and 78 are calls, for a total amount of $6,404,773.

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 $5.0 and $40.0 for Cipher Mining, spanning the last three months.

Volume & Open Interest Development

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 Cipher Mining'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 Cipher Mining's whale trades within a strike price range from $5.0 to $40.0 in the last 30 days.

Cipher Mining 30-Day Option Volume & Interest Snapshot

Noteworthy Options Activity:

About Cipher Mining

Cipher Mining Inc ia an emerging technology company that operates in the Bitcoin mining ecosystem in the United States. The company is developing a cryptocurrency mining business, specializing in Bitcoin. The company is expanding and strengthening the Bitcoin network's critical infrastructure in the United States.

Having examined the options trading patterns of Cipher Mining, our attention now turns directly to the company. This shift allows us to delve into its present market position and performance

Present Market Standing of Cipher Mining

• Currently trading with a volume of 27,240,092, the CIFR's price is up by 0.1%, now at $20.56.
• RSI readings suggest the stock is currently may be overbought.
• Anticipated earnings release is in 6 days.

What The Experts Say On Cipher Mining

In the last month, 5 experts released ratings on this stock with an average target price of $22.0.

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. * Consistent in their evaluation, an analyst from Macquarie keeps a Outperform rating on Cipher Mining with a target price of $27. * Consistent in their evaluation, an analyst from HC Wainwright & Co. keeps a Buy rating on Cipher Mining with a target price of $17. * An analyst from Canaccord Genuity persists with their Buy rating on Cipher Mining, maintaining a target price of $16. * Consistent in their evaluation, an analyst from Rosenblatt keeps a Buy rating on Cipher Mining with a target price of $25. * An analyst from BTIG persists with their Buy rating on Cipher Mining, maintaining a target price of $25.

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 Cipher Mining with Benzinga Pro for real-time alerts.