Investors with a lot of money to spend have taken a bullish stance on Hut 8 HUT.
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 HUT, 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 9 uncommon options trades for Hut 8.
This isn't normal.
The overall sentiment of these big-money traders is split between 66% bullish and 33%, bearish.
Out of all of the special options we uncovered, 5 are puts, for a total amount of $178,015, and 4 are calls, for a total amount of $189,670.
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Predicted Price Range
After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $8.0 and $25.0 for Hut 8, spanning the last three months.
Volume & Open Interest Trends
In terms of liquidity and interest, the mean open interest for Hut 8 options trades today is 1662.86 with a total volume of 2,747.00.
In the following chart, we are able to follow the development of volume and open interest of call and put options for Hut 8's big money trades within a strike price range of $8.0 to $25.0 over the last 30 days.
Hut 8 Option Volume And Open Interest Over Last 30 Days
Noteworthy Options Activity:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| HUT | CALL | TRADE | BULLISH | 01/19/24 | $12.00 | $71.7K | 2.0K | 5 |
| HUT | CALL | TRADE | BULLISH | 01/17/25 | $15.00 | $57.1K | 1.1K | 197 |
| HUT | PUT | SWEEP | BULLISH | 01/19/24 | $10.00 | $43.3K | 7.0K | 2.1K |
| HUT | PUT | TRADE | NEUTRAL | 01/17/25 | $25.00 | $40.4K | 138 | 25 |
| HUT | PUT | TRADE | NEUTRAL | 01/17/25 | $25.00 | $35.6K | 138 | 47 |
About Hut 8
Hut 8 Corp is harnessing the limitless potential of data by leveraging cutting-edge infrastructure to create value for its customers and shareholders. Led by a seasoned executive team, Hut 8 is bullish on building computing infrastructure that powers Bitcoin mining, traditional data center's, and the dynamic requirements of future technologies like AI and machine learning.
After a thorough review of the options trading surrounding Hut 8, we move to examine the company in more detail. This includes an assessment of its current market status and performance.
Hut 8's Current Market Status
- With a trading volume of 8,895,960, the price of HUT is up by 10.57%, reaching $13.39.
- Current RSI values indicate that the stock is may be approaching overbought.
- Next earnings report is scheduled for 56 days from now.
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.
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