This Is What Whales Are Betting On IonQ

Deep-pocketed investors have adopted a bearish approach towards IonQ IONQ, and it's something market players shouldn't ignore. Our tracking of public options records at Benzinga unveiled this significant move today. The identity of these investors remains unknown, but such a substantial move in IONQ usually suggests something big is about to happen.

We gleaned this information from our observations today when Benzinga's options scanner highlighted 8 extraordinary options activities for IonQ. This level of activity is out of the ordinary.

The general mood among these heavyweight investors is divided, with 37% leaning bullish and 62% bearish. Among these notable options, 2 are puts, totaling $73,600, and 6 are calls, amounting to $371,815.

Projected Price Targets

After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $15.0 and $30.0 for IonQ, spanning the last three months.

Volume & Open Interest Development

Examining the volume and open interest provides crucial insights into stock research. This information is key in gauging liquidity and interest levels for IonQ's options at certain strike prices. Below, we present a snapshot of the trends in volume and open interest for calls and puts across IonQ's significant trades, within a strike price range of $15.0 to $30.0, over the past month.

IonQ 30-Day Option Volume & Interest Snapshot

Noteworthy Options Activity:

About IonQ

IonQ Inc sells access to several quantum computers of various qubit capacities and is in the process of researching and developing technologies for quantum computers with increasing computational capabilities. The company currently makes access to its quantum computers available via cloud platforms and also to select customers via its own cloud service. This cloud-based approach enables the broad availability of quantum-computing-as-a-service (QCaaS). The company derives its revenue from its quantum-computing-as-a-service arrangements, consulting services related to co-developing algorithms on company's quantum computing systems and contracts associated with the design, development, and construction of specialized quantum computing systems together with related services.

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

IonQ's Current Market Status

• Trading volume stands at 8,080,576, with IONQ's price up by 1.03%, positioned at $26.36.
• RSI indicators show the stock to be may be approaching overbought.
• Earnings announcement expected in 23 days.

What The Experts Say On IonQ

In the last month, 1 experts released ratings on this stock with an average target price of $45.0.

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. * Reflecting concerns, an analyst from Benchmark lowers its rating to Buy with a new price target of $45.

Options trading presents higher risks and potential rewards. Astute traders manage these risks by continually educating themselves, adapting their strategies, monitoring multiple indicators, and keeping a close eye on market movements. Stay informed about the latest IonQ options trades with real-time alerts from Benzinga Pro.