Bitcoin (CRYPTO: BTC) miner such as
Marathon Digital Holdings Inc (NASDAQ:MARA) is an option.
Marathon Digital mines its own bitcoin to acquire it at a lower cost. This gives shareholders more protection against the cryptocurrency’s wild fluctuations and helps protect Marathon Digital’s bottom line.
On Wednesday, Bitcoin rebounded 8% by midafternoon and a number of options traders bet $541,440 Bitcoin’s rise will have a positive effect on Marathon Digital’s stock.
The Marathon Digital Option Trades: Below is a look at the notable options alerts, courtesy of Benzinga Pro:
At 10:04 a.m., a trader executed a call sweep, at the ask, of 444 Marathon Digital options with a $32 strike price expiring on May 28. The trade represented a $226,440 bullish bet for which the trader paid $5.10 per option contract.
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