Financial giants have made a conspicuous bearish move on Core Scientific. Our analysis of options history for Core Scientific (NASDAQ:CORZ) revealed 11 unusual trades.
Delving into the details, we found 18% of traders were bullish, while 63% showed bearish tendencies. Out of all the trades we spotted, 2 were puts, with a value of $74,925, and 9 were calls, valued at $456,517.
Projected Price Targets
Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $6.0 to $11.0 for Core Scientific over the last 3 months.
Volume & Open Interest Trends
Examining the volume and open interest provides crucial insights into stock research. This information is key in gauging liquidity and interest levels for Core Scientific's options at certain strike prices. Below, we present a snapshot of the trends in volume and open interest for calls and puts across Core Scientific's significant trades, within a strike price range of $6.0 to $11.0, over the past month.
Core Scientific 30-Day Option Volume & Interest Snapshot
Significant Options Trades Detected:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| CORZ | CALL | SWEEP | BEARISH | 07/19/24 | $4.6 | $4.2 | $4.2 | $6.00 | $84.0K | 1.5K | 200 |
| CORZ | CALL | SWEEP | BEARISH | 01/17/25 | $4.1 | $3.9 | $3.9 | $7.00 | $78.0K | 8.6K | 0 |
| CORZ | CALL | SWEEP | BEARISH | 07/19/24 | $5.0 | $3.9 | $3.8 | $6.00 | $76.0K | 1.5K | 0 |
| CORZ | CALL | SWEEP | BULLISH | 07/19/24 | $0.95 | $0.8 | $0.95 | $11.00 | $54.2K | 4.8K | 66 |
| CORZ | CALL | SWEEP | NEUTRAL | 06/21/24 | $0.5 | $0.4 | $0.45 | $10.00 | $43.3K | 13.6K | 417 |
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.
After a thorough review of the options trading surrounding Core Scientific, we move to examine the company in more detail. This includes an assessment of its current market status and performance.
Current Position of Core Scientific
- With a volume of 4,855,882, the price of CORZ is down -3.89% at $9.93.
- RSI indicators hint that the underlying stock may be overbought.
- Next earnings are expected to be released in 57 days.
Professional Analyst Ratings for Core Scientific
2 market experts have recently issued ratings for this stock, with a consensus target price of $9.0.
- Consistent in their evaluation, an analyst from BTIG keeps a Buy rating on Core Scientific with a target price of $10.
- An analyst from BTIG has elevated its stance to Buy, setting a new price target at $8.
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.