Investors with a lot of money to spend have taken a bearish stance on Core Scientific (NASDAQ:CORZ).
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 CORZ, it often means somebody knows something is about to happen.
Today, Benzinga's options scanner spotted 22 options trades for Core Scientific.
This isn't normal.
The overall sentiment of these big-money traders is split between 31% bullish and 59%, bearish.
Out of all of the options we uncovered, there was 1 put, for a total amount of $40,000, and 21, calls, for a total amount of $1,412,510.
Expected Price Movements
Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $6.0 to $20.0 for Core Scientific over the recent three months.
Insights into Volume & Open Interest
Looking at the volume and open interest is a powerful move while trading options. This data can help you track the liquidity and interest for Core Scientific's options for a given strike price. Below, we can observe the evolution of the volume and open interest of calls and puts, respectively, for all of Core Scientific's whale trades within a strike price range from $6.0 to $20.0 in the last 30 days.
Core Scientific 30-Day Option Volume & Interest Snapshot
Biggest Options Spotted:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| CORZ | CALL | SWEEP | BEARISH | 09/20/24 | $2.65 | $2.45 | $2.45 | $9.00 | $170.5K | 13.2K | 373 |
| CORZ | CALL | SWEEP | BEARISH | 09/20/24 | $5.1 | $4.7 | $4.75 | $6.00 | $142.5K | 1.6K | 0 |
| CORZ | CALL | SWEEP | BEARISH | 07/19/24 | $0.9 | $0.65 | $0.65 | $10.50 | $130.0K | 7.4K | 107 |
| CORZ | CALL | TRADE | BEARISH | 09/20/24 | $2.65 | $2.45 | $2.5 | $9.00 | $125.7K | 13.2K | 373 |
| CORZ | CALL | SWEEP | BEARISH | 09/20/24 | $2.65 | $2.5 | $2.5 | $9.00 | $124.2K | 13.2K | 1.5K |
About Core Scientific
Core Scientific Inc is engaged in Blockchain and AI Infrastructure, Digital Asset Self-Mining, Premium Hosting, Blockchain Technology, and Artificial Intelligence related services. The business operates in two segments being; Equipment Sales and Hosting which consists of blockchain infrastructure, third-party hosting business and equipment sales to customers. Mining segment consists of digital asset mining for its account. The blockchain business generates revenue from the sale of consumption-based contracts and by providing hosting services. The digital asset mining segment earns revenue from operating a firm's owned computer equipment as part of a pool of users that process transactions conducted on one or more blockchain networks. In exchange, it receives digital currency assets.
Having examined the options trading patterns of Core Scientific, our attention now turns directly to the company. This shift allows us to delve into its present market position and performance
Present Market Standing of Core Scientific
- With a trading volume of 6,562,207, the price of CORZ is up by 8.56%, reaching $10.96.
- Current RSI values indicate that the stock is may be approaching overbought.
- Next earnings report is scheduled for 29 days from now.
Professional Analyst Ratings for Core Scientific
In the last month, 5 experts released ratings on this stock with an average target price of $14.5.
- An analyst from HC Wainwright & Co. has decided to maintain their Buy rating on Core Scientific, which currently sits at a price target of $15.
- In a cautious move, an analyst from HC Wainwright & Co. downgraded its rating to Buy, setting a price target of $15.
- In a cautious move, an analyst from Ladenburg Thalmann downgraded its rating to Buy, setting a price target of $14.
- Maintaining their stance, an analyst from HC Wainwright & Co. continues to hold a Buy rating for Core Scientific, targeting a price of $11.
- An analyst from Bernstein downgraded its action to Outperform with a price target of $17.
Trading options involves greater risks but also offers the potential for higher profits. Savvy traders mitigate these risks through ongoing education, strategic trade adjustments, utilizing various indicators, and staying attuned to market dynamics. Keep up with the latest options trades for Core Scientific with Benzinga Pro for real-time alerts.