Crypto Miner with Strong Growth Sees Bulls Stick with Upside Momentum
Core Scientific (CORZ) today seeing 4000 Dec. $11 puts sold to open $0.50 and into strength saw 2100 June 2025 $16 calls buy $2.35 offer sweeps for the crypto miner that has stayed one of the strongest names in the group this summer trending to highs and looks to continue that into yearend especially if Bitcoin breaks to highs. While the June call buys may be a bit aggressive and better to look to buy on a pullback, it can easily pay off with lots of time left till next summer. The December put sellers are higher odds bets and while not that sexy, if willing to own it closer to $10 net basis the opening put sales reward you for selling rich implied volatility right now in the volatile crypto miner. Put sales in the group has been a favorite way of mine to play any dips in the group lately. CORZ is a $3.5B crypto miner seeing 30% sales growth projected in FY25 and still with a near 12% short float after declining from 18% in July as shorts get squeezed out of bad bets this should continue higher but as usual with a higher beta flyer its best to pay attention to your position sizing as well.