Market Whales and Their Recent Bets on HUT Options

Benzinga’s options scanner has just identified more than 9 option transactions on Hut 8 (NASDAQ:HUT), with a cumulative value of $226,024. Concurrently, our algorithms picked up 2 puts, worth a total of 53,910.

Expected Price Movements

Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $58.0 to $90.0 for Hut 8 over the recent three months.

Analyzing Volume & Open Interest

In terms of liquidity and interest, the mean open interest for Hut 8 options trades today is 908.4 with a total volume of 3,082.00.

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 $58.0 to $90.0 over the last 30 days.

Hut 8 Option Activity Analysis: Last 30 Days

Noteworthy Options Activity:

About Hut 8

Hut 8 Corp is an energy infrastructure operator and Bitcoin miner with self-mining, hosting, managed services, and traditional data center operations across North America. The company has four reportable business segments: Power, Digital Infrastructure, Compute, and Other. It derives maximum revenue from the Compute segment which consists of Bitcoin Mining, GPU-as-a-Service, and Data Center Cloud operations. Its geographical segments include the United States and Canada, of which it generates the majority of revenue from the United States.

Where Is Hut 8 Standing Right Now?

• Trading volume stands at 2,744,538, with HUT’s price up by 0.98%, positioned at $62.45.
• RSI indicators show the stock to be may be overbought.
• Earnings announcement expected in 33 days.

What Analysts Are Saying About Hut 8

Over the past month, 3 industry analysts have shared their insights on this stock, proposing an average target price of $70.33.

• An analyst from Needham has revised its rating downward to Buy, adjusting the price target to $60.
• Consistent in their evaluation, an analyst from Keefe, Bruyette & Woods keeps a Outperform rating on Hut 8 with a target price of $75.
• Maintaining their stance, an analyst from B. Riley Securities continues to hold a Buy rating for Hut 8, targeting a price of $76.

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.