Core Scientific'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 Core Scientific CORZ.

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 CORZ, 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 9 uncommon options trades for Core Scientific.

This isn't normal.

The overall sentiment of these big-money traders is split between 55% bullish and 33%, bearish.

Out of all of the special options we uncovered, 4 are puts, for a total amount of $510,695, and 5 are calls, for a total amount of $247,354.

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 $7.0 and $22.0 for Core Scientific, spanning the last three months.

Volume & Open Interest Trends

In today's trading context, the average open interest for options of Core Scientific stands at 5349.29, with a total volume reaching 17,117.00. The accompanying chart delineates the progression of both call and put option volume and open interest for high-value trades in Core Scientific, situated within the strike price corridor from $7.0 to $22.0, throughout the last 30 days.

Core Scientific Option Activity Analysis: Last 30 Days

Largest Options Trades Observed:

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.

Core Scientific's Current Market Status

• Currently trading with a volume of 6,325,873, the CORZ's price is up by 0.93%, now at $9.8.
• RSI readings suggest the stock is currently may be approaching overbought.
• Anticipated earnings release is in 0 days.

What The Experts Say On Core Scientific

5 market experts have recently issued ratings for this stock, with a consensus target price of $16.0.

• An analyst from Cantor Fitzgerald downgraded its action to Overweight with a price target of $20.
• Reflecting concerns, an analyst from Bernstein lowers its rating to Outperform with a new price target of $17.
• 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.
• In a cautious move, an analyst from HC Wainwright & Co. downgraded its rating to Buy, setting a price target of $15.

Options are a riskier asset compared to just trading the stock, but they have higher profit potential. Serious options traders manage this risk by educating themselves daily, scaling in and out of trades, following more than one indicator, and following the markets closely.

If you want to stay updated on the latest options trades for Core Scientific, Benzinga Pro gives you real-time options trades alerts.