Looking At Hut 8's Recent Unusual Options Activity

Financial giants have made a conspicuous bullish move on Hut 8. Our analysis of options history for Hut 8 HUT revealed 13 unusual trades.

Delving into the details, we found 46% of traders were bullish, while 30% showed bearish tendencies. Out of all the trades we spotted, 6 were puts, with a value of $175,460, and 7 were calls, valued at $576,929.

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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 $12.0 and $22.0 for Hut 8, spanning the last three months.

Volume & Open Interest Trends

In today's trading context, the average open interest for options of Hut 8 stands at 1066.0, with a total volume reaching 11,008.00. The accompanying chart delineates the progression of both call and put option volume and open interest for high-value trades in Hut 8, situated within the strike price corridor from $12.0 to $22.0, throughout the last 30 days.

Hut 8 Option Activity Analysis: Last 30 Days

Significant Options Trades Detected:

About Hut 8

Hut 8 Corp is an energy infrastructure operator and Bitcoin miner with self-mining, hosting, managed services, and traditional data center operations across North America. The company has four reportable business segments: Power, Digital Infrastructure, Compute, and Other. It derives maximum revenue from the Compute segment which consists of Bitcoin Mining, GPU-as-a-Service, and Data Center Cloud operations. Its geographical segments include the United States and Canada, of which it generates the majority of revenue from the United States.

In light of the recent options history for Hut 8, it's now appropriate to focus on the company itself. We aim to explore its current performance.

Current Position of Hut 8

• With a trading volume of 6,145,239, the price of HUT is up by 6.71%, reaching $12.4.
• Current RSI values indicate that the stock is is currently neutral between overbought and oversold.
• Next earnings report is scheduled for 43 days from now.

What Analysts Are Saying About Hut 8

A total of 5 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $29.0.

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. * In a cautious move, an analyst from Cantor Fitzgerald downgraded its rating to Overweight, setting a price target of $30. * An analyst from Canaccord Genuity persists with their Buy rating on Hut 8, maintaining a target price of $32. * Maintaining their stance, an analyst from HC Wainwright & Co. continues to hold a Buy rating for Hut 8, targeting a price of $30. * Reflecting concerns, an analyst from Needham lowers its rating to Buy with a new price target of $30. * Reflecting concerns, an analyst from Rosenblatt lowers its rating to Buy with a new price target of $23.

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 Hut 8, Benzinga Pro gives you real-time options trades alerts.