Spotlight on IonQ: Analyzing the Surge in Options Activity

Investors with a lot of money to spend have taken a bullish stance on IonQ IONQ.

And retail traders should know.

We noticed this today when the positions 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 IONQ, it often means somebody knows something is about to happen.

Today, Benzinga's options scanner spotted 23 options trades for IonQ.

This isn't normal.

The overall sentiment of these big-money traders is split between 69% bullish and 30%, bearish.

Out of all of the options we uncovered, there was 1 put, for a total amount of $89,811, and 22, calls, for a total amount of $1,458,055.

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 $5.0 and $50.0 for IonQ, spanning the last three months.

Analyzing Volume & Open Interest

In today's trading context, the average open interest for options of IonQ stands at 2953.0, with a total volume reaching 24,205.00. The accompanying chart delineates the progression of both call and put option volume and open interest for high-value trades in IonQ, situated within the strike price corridor from $5.0 to $50.0, throughout the last 30 days.

IonQ Call and Put Volume: 30-Day Overview

Significant Options Trades Detected:

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.

Current Position of IonQ

• With a volume of 18,057,468, the price of IONQ is up 1.17% at $45.73.
• RSI indicators hint that the underlying stock may be approaching overbought.
• Next earnings are expected to be released in 29 days.

Expert Opinions on IonQ

A total of 5 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $49.0.

Turn $1000 into $1270 in just 20 days?

20-year pro options trader reveals his one-line chart technique that shows when to buy and sell. Copy his trades, which have had averaged a 27% profit every 20 days. Click here for access. * Reflecting concerns, an analyst from Benchmark lowers its rating to Buy with a new price target of $50. * In a cautious move, an analyst from Cantor Fitzgerald downgraded its rating to Overweight, setting a price target of $45. * Reflecting concerns, an analyst from Needham lowers its rating to Buy with a new price target of $50. * An analyst from Benchmark downgraded its action to Buy with a price target of $50. * In a cautious move, an analyst from Benchmark downgraded its rating to Buy, setting a price target of $50.

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