A Closer Look at Core Scientific's Options Market Dynamics

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 12 uncommon options trades for Core Scientific.

This isn't normal.

The overall sentiment of these big-money traders is split between 50% bullish and 50%, bearish.

Out of all of the special options we uncovered, 3 are puts, for a total amount of $384,415, and 9 are calls, for a total amount of $500,524.

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What's The Price Target?

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 $20.0 for Core Scientific, spanning the last three months.

Volume & Open Interest Development

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 Core Scientific'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 Core Scientific's whale activity within a strike price range from $7.0 to $20.0 in the last 30 days.

Core Scientific Option Activity Analysis: Last 30 Days

Noteworthy Options Activity:

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.

After a thorough review of the options trading surrounding Core Scientific, we move to examine the company in more detail. This includes an assessment of its current market status and performance.

Core Scientific's Current Market Status

• With a trading volume of 7,926,329, the price of CORZ is up by 0.4%, reaching $10.13.
• Current RSI values indicate that the stock is is currently neutral between overbought and oversold.
• Next earnings report is scheduled for 86 days from now.

Professional Analyst Ratings for Core Scientific

A total of 1 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $20.0.

• In a cautious move, an analyst from Cantor Fitzgerald downgraded its rating to Overweight, setting a price target of $20.

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.