IonQ's Options Frenzy: What You Need to Know

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

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 IONQ, 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 26 uncommon options trades for IonQ.

This isn't normal.

The overall sentiment of these big-money traders is split between 46% bullish and 34%, bearish.

Out of all of the special options we uncovered, 11 are puts, for a total amount of $1,073,074, and 15 are calls, for a total amount of $728,375.

What's The Price Target?

Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $20.0 to $80.0 for IonQ over the last 3 months.

Analyzing Volume & Open Interest

Assessing the volume and open interest is a strategic step in options trading. These metrics shed light on the liquidity and investor interest in IonQ's options at specified strike prices. The forthcoming data visualizes the fluctuation in volume and open interest for both calls and puts, linked to IonQ's substantial trades, within a strike price spectrum from $20.0 to $80.0 over the preceding 30 days.

IonQ Call and Put Volume: 30-Day Overview

Biggest Options Spotted:

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

Current Position of IonQ

• With a volume of 14,071,240, the price of IONQ is up 0.32% at $47.33.
• RSI indicators hint that the underlying stock may be approaching oversold.
• Next earnings are expected to be released in 100 days.

What The Experts Say On IonQ

Over the past month, 5 industry analysts have shared their insights on this stock, proposing an average target price of $72.6.

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. * An analyst from Morgan Stanley persists with their Equal-Weight rating on IonQ, maintaining a target price of $58. * An analyst from Cantor Fitzgerald persists with their Overweight rating on IonQ, maintaining a target price of $70. * Reflecting concerns, an analyst from Needham lowers its rating to Buy with a new price target of $80. * An analyst from DA Davidson has decided to maintain their Neutral rating on IonQ, which currently sits at a price target of $55. * Maintaining their stance, an analyst from Rosenblatt continues to hold a Buy rating for IonQ, targeting a price of $100.

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.