Cleanspark's Options: A Look at What the Big Money is Thinking

Author: Benzinga Insights | April 29, 2024 03:31pm

Investors with a lot of money to spend have taken a bearish stance on Cleanspark (NASDAQ:CLSK).

And retail traders should know.

We noticed this today when the trades 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.

So how do we know what these investors just did?

Today, Benzinga's options scanner spotted 13 uncommon options trades for Cleanspark.

This isn't normal.

The overall sentiment of these big-money traders is split between 38% bullish and 46%, bearish.

Out of all of the special options we uncovered, 4 are puts, for a total amount of $161,670, and 9 are calls, for a total amount of $375,964.

Expected Price Movements

Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $15.0 to $35.0 for Cleanspark over the recent three months.

Analyzing 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 Cleanspark'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 Cleanspark's whale trades within a strike price range from $15.0 to $35.0 in the last 30 days.

Cleanspark 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
CLSK	CALL	SWEEP	NEUTRAL	01/17/25	$7.3	$7.1	$7.1	$20.00	$71.0K	9.0K	331
CLSK	PUT	SWEEP	BULLISH	06/21/24	$1.8	$1.75	$1.75	$15.00	$70.0K	2.5K	545
CLSK	CALL	SWEEP	BULLISH	01/17/25	$4.7	$4.6	$4.69	$35.00	$51.9K	3.4K	302
CLSK	CALL	SWEEP	BEARISH	01/17/25	$8.5	$8.4	$8.4	$15.00	$50.4K	12.8K	94
CLSK	CALL	SWEEP	NEUTRAL	01/17/25	$4.7	$4.6	$4.64	$35.00	$41.3K	3.4K	190

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.

Where Is Cleanspark Standing Right Now?

• With a trading volume of 19,972,387, the price of CLSK is down by -7.7%, reaching $17.75.
• Current RSI values indicate that the stock is may be approaching overbought.
• Next earnings report is scheduled for 10 days from now.

Professional Analyst Ratings for Cleanspark

3 market experts have recently issued ratings for this stock, with a consensus target price of $20.666666666666668.

• Maintaining their stance, an analyst from JP Morgan continues to hold a Neutral rating for Cleanspark, targeting a price of $15.
• Reflecting concerns, an analyst from HC Wainwright & Co. lowers its rating to Buy with a new price target of $27.
• An analyst from Cantor Fitzgerald downgraded its action to Overweight with a price target of $20.

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