Investors with a lot of money to spend have taken a bullish stance on Cleanspark (NASDAQ:CLSK).
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 CLSK, it often means somebody knows something is about to happen.
Today, Benzinga's options scanner spotted 20 options trades for Cleanspark.
This isn't normal.
The overall sentiment of these big-money traders is split between 40% bullish and 35%, bearish.
Out of all of the options we uncovered, there was 1 put, for a total amount of $281,395, and 19, calls, for a total amount of $982,220.
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 $7.0 to $37.0 for Cleanspark 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 Cleanspark's options at specified strike prices. The forthcoming data visualizes the fluctuation in volume and open interest for both calls and puts, linked to Cleanspark's substantial trades, within a strike price spectrum from $7.0 to $37.0 over the preceding 30 days.
Cleanspark 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| CLSK | PUT | SWEEP | BULLISH | 09/20/24 | $8.4 | $8.3 | $8.35 | $25.00 | $281.3K | 417 | 0 |
| CLSK | CALL | SWEEP | BULLISH | 08/16/24 | $0.45 | $0.36 | $0.44 | $30.00 | $160.4K | 17.2K | 5.8K |
| CLSK | CALL | SWEEP | BULLISH | 08/16/24 | $0.5 | $0.48 | $0.48 | $30.00 | $116.0K | 17.2K | 2.2K |
| CLSK | CALL | SWEEP | BULLISH | 08/16/24 | $0.47 | $0.46 | $0.46 | $30.00 | $80.1K | 17.2K | 219 |
| CLSK | CALL | TRADE | BEARISH | 08/16/24 | $0.48 | $0.44 | $0.44 | $30.00 | $72.1K | 17.2K | 5.8K |
About Cleanspark
Cleanspark Inc is a bitcoin mining company. Through CleanSpark, Inc., and the Company's wholly owned subsidiaries, the company mines bitcoin. The company entered the bitcoin mining industry through its acquisition of ATL. Bitcoin mining is the sole reportable segment of the company.
Following our analysis of the options activities associated with Cleanspark, we pivot to a closer look at the company's own performance.
Cleanspark's Current Market Status
- With a volume of 19,426,155, the price of CLSK is down -9.09% at $17.34.
- RSI indicators hint that the underlying stock is currently neutral between overbought and oversold.
- Next earnings are expected to be released in 20 days.
Professional Analyst Ratings for Cleanspark
Over the past month, 2 industry analysts have shared their insights on this stock, proposing an average target price of $27.5.
- Reflecting concerns, an analyst from HC Wainwright & Co. lowers its rating to Buy with a new price target of $27.
- Maintaining their stance, an analyst from Cantor Fitzgerald continues to hold a Overweight rating for Cleanspark, targeting a price of $28.
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 Cleanspark options trades with real-time alerts from Benzinga Pro.