Spotlight on Cleanspark: Analyzing the Surge in Options Activity

Investors with a lot of money to spend have taken a bullish stance on Cleanspark CLSK.

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 CLSK, 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 14 uncommon options trades for Cleanspark.

This isn't normal.

The overall sentiment of these big-money traders is split between 57% bullish and 14%, bearish.

Out of all of the special options we uncovered, 6 are puts, for a total amount of $249,979, and 8 are calls, for a total amount of $559,651.

What's The Price Target?

Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $2.5 to $37.0 for Cleanspark over the recent three months.

Volume & Open Interest Trends

Looking at the volume and open interest is an insightful way to conduct due diligence on a stock.

This data can help you track the liquidity and interest for Cleanspark'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 Cleanspark's whale activity within a strike price range from $2.5 to $37.0 in the last 30 days.

Cleanspark Option Activity Analysis: 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
CLSK CALL TRADE NEUTRAL 01/17/25 $4.6 $4.4 $4.5 $27.00 $225.0K 665 1.0K
CLSK CALL SWEEP BULLISH 06/21/24 $0.55 $0.5 $0.55 $37.00 $92.7K 6.3K 2
CLSK PUT SWEEP BULLISH 05/10/24 $0.3 $0.25 $0.3 $14.00 $63.0K 518 2.3K
CLSK CALL SWEEP NEUTRAL 05/17/24 $3.1 $3.0 $3.05 $14.00 $62.5K 255 207
CLSK PUT TRADE BEARISH 05/17/24 $2.25 $2.2 $2.25 $17.50 $56.0K 1.8K 258

About Cleanspark

Cleanspark Inc is a bitcoin mining company. Through CleanSpark, Inc., and the Company's wholly owned subsidiaries, the company mines bitcoin. The company entered the bitcoin mining industry through its acquisition of ATL. Bitcoin mining is the sole reportable segment of the company.

Where Is Cleanspark Standing Right Now?

  • With a trading volume of 18,669,559, the price of CLSK is up by 5.21%, reaching $16.77.
  • Current RSI values indicate that the stock is may be approaching overbought.
  • Next earnings report is scheduled for 6 days from now.

What The Experts Say On Cleanspark

2 market experts have recently issued ratings for this stock, with a consensus target price of $21.0.

  • An analyst from HC Wainwright & Co. has revised its rating downward to Buy, adjusting the price target to $27.
  • Consistent in their evaluation, an analyst from JP Morgan keeps a Neutral rating on Cleanspark with a target price of $15.

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 Cleanspark with Benzinga Pro for real-time alerts.

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Posted In: OptionsMarketsBZI-UOA
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