A Closer Look at IonQ's Options Market Dynamics

Investors with a lot of money to spend have taken a bearish stance on IonQ IONQ.

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 IONQ, it often means somebody knows something is about to happen.

Today, Benzinga’s options scanner spotted 10 options trades for IonQ.

This isn’t normal.

The overall sentiment of these big-money traders is split between 20% bullish and 80%, bearish.

Out of all of the options we uncovered, there was 1 put, for a total amount of $28,500, and 9, calls, for a total amount of $315,984.

Expected Price Movements

Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $15.0 to $25.0 for IonQ during the past quarter.

Volume & Open Interest Trends

In terms of liquidity and interest, the mean open interest for IonQ options trades today is 937.86 with a total volume of 3,992.00.

In the following chart, we are able to follow the development of volume and open interest of call and put options for IonQ’s big money trades within a strike price range of $15.0 to $25.0 over the last 30 days.

IonQ Option Activity Analysis: Last 30 Days

Significant Options Trades Detected:

About IonQ

IonQ Inc sells access to several quantum computers of various qubit capacities and is in the process of researching and developing technologies for quantum computers with increasing computational capabilities. The company currently makes access to its quantum computers available via cloud platforms and also to select customers via its own cloud service. This cloud-based approach enables the broad availability of quantum-computing-as-a-service (QCaaS). The company derives its revenue from its quantum-computing-as-a-service arrangements, consulting services related to co-developing algorithms on company’s quantum computing systems and contracts associated with the design, development, and construction of specialized quantum computing systems together with related services.

In light of the recent options history for IonQ, it’s now appropriate to focus on the company itself. We aim to explore its current performance.

IonQ’s Current Market Status

• Currently trading with a volume of 18,920,136, the IONQ’s price is down by -1.92%, now at $24.52.
• RSI readings suggest the stock is currently is currently neutral between overbought and oversold.
• Anticipated earnings release is in 51 days.

Professional Analyst Ratings for IonQ

A total of 2 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $49.5.

Unusual Options Activity Detected: Smart Money on the Move

Benzinga Edge’s Unusual Options board spots potential market movers before they happen. See what positions big money is taking on your favorite stocks. Click here for access.
* An analyst from Benchmark has decided to maintain their Buy rating on IonQ, which currently sits at a price target of $45.
* An analyst from Needham downgraded its action to Buy with a price target of $54.

Trading options involves greater risks but also offers the potential for higher profits. Savvy traders mitigate these risks through ongoing education, strategic trade adjustments, utilizing various indicators, and staying attuned to market dynamics. Keep up with the latest options trades for IonQ with Benzinga Pro for real-time alerts.