Rising Crypto Sentiment Could Make Cipher Mining (CIFR) a Strong Bullish Options Trade
bitcoin on graph background by NanoStockk via iStock
Cipher Mining (CIFR) deserves a closer look, especially with the cryptocurrency sector deciding to wake up. Granted, since hitting a closing high of $24.71 on Nov. 5, CIFR stock is still down a sizable 24%. Nevertheless, rising sentiment in the blockchain ecosystem bodes well for adjacent players. Sure enough, CIFR has been one of the strongest-performing assets recently, moving up nearly 16% in the past five sessions.
If the options market has anything to say about it, Cipher Mining stock could be due for even more upside.
Specifically, options flow — which focuses exclusively on big block transactions likely placed by institutional investors — has witnessed a transition…
