What the Options Market Tells Us About Cleanspark

Author: Benzinga Insights | July 02, 2024 10:46am

Financial giants have made a conspicuous bullish move on Cleanspark. Our analysis of options history for Cleanspark (NASDAQ:CLSK) revealed 10 unusual trades.

Delving into the details, we found 50% of traders were bullish, while 40% showed bearish tendencies. Out of all the trades we spotted, 2 were puts, with a value of $89,200, and 8 were calls, valued at $404,522.

What's The Price Target?

Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $12.5 to $30.0 for Cleanspark over the recent three months.

Insights into 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 $12.5 to $30.0 over the preceding 30 days.

Cleanspark Option Activity Analysis: Last 30 Days

Options Call Chart

Largest Options Trades Observed:

Symbol	PUT/CALL	Trade Type	Sentiment	Exp. Date	Ask	Bid	Price	Strike Price	Total Trade Price	Open Interest	Volume
CLSK	CALL	SWEEP	BULLISH	01/16/26	$10.15	$9.85	$10.15	$17.50	$101.5K	1.5K	3
CLSK	CALL	TRADE	BEARISH	01/17/25	$6.3	$6.15	$6.2	$17.50	$93.0K	6.1K	9
CLSK	PUT	TRADE	BULLISH	01/16/26	$10.7	$10.4	$10.4	$20.00	$52.0K	348	0
CLSK	CALL	TRADE	BULLISH	07/18/25	$6.05	$5.85	$5.97	$30.00	$41.7K	2.0K	22
CLSK	CALL	SWEEP	BEARISH	07/26/24	$2.63	$2.44	$2.44	$16.50	$41.4K	357	12

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.

Having examined the options trading patterns of Cleanspark, our attention now turns directly to the company. This shift allows us to delve into its present market position and performance

Current Position of Cleanspark

With a trading volume of 8,993,661, the price of CLSK is down by -0.78%, reaching $17.78.
Current RSI values indicate that the stock is may be approaching overbought.
Next earnings report is scheduled for 36 days from now.

What Analysts Are Saying About Cleanspark

4 market experts have recently issued ratings for this stock, with a consensus target price of $23.375.

Maintaining their stance, an analyst from JP Morgan continues to hold a Neutral rating for Cleanspark, targeting a price of $12.
An analyst from HC Wainwright & Co. has revised its rating downward to Buy, adjusting the price target to $27.
An analyst from HC Wainwright & Co. has revised its rating downward to Buy, adjusting the price target to $27.
In a cautious move, an analyst from Cantor Fitzgerald downgraded its rating to Overweight, setting a price target of $27.

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.

Posted In: CLSK