Whales Bet Big on IonQ with Bullish Options Trades

Whales with deep pockets have taken a notably bullish stance on IonQ, a leading quantum computing company, as recent options trading activity reveals significant investor interest. Over the past three months, 36 trades have been detected, with 44% of investors opening bullish positions and 33% taking bearish ones. The trades include 17 puts totaling $1,659,766 and 19 calls amounting to $1,159,912, signaling a mix of optimism and caution among high-stakes traders.

Options activity indicates that significant investors are targeting a price range of $10.0 to $75.0 for IonQ. Analysts have also weighed in, with DA Davidson revising its rating to Buy and setting a price target of $50, while Craig-Hallum maintains a Buy rating with a $45 target. The average price target from two professional analysts over the last 30 days stands at $47.5.

IonQ, which provides access to quantum computers via cloud platforms, has seen growing interest in its quantum-computing-as-a-service (QCaaS) model. The company generates revenue through QCaaS arrangements, consulting services, and contracts for developing specialized quantum computing systems. This surge in options trading reflects the market’s anticipation of IonQ’s potential growth in the rapidly evolving quantum computing sector.

Options trading, while riskier than traditional stock trading, offers higher profit potential. Investors are closely monitoring IonQ’s performance, with tools like Benzinga Edge providing real-time alerts on unusual options activity. As the quantum computing industry continues to expand, IonQ remains a focal point for both bullish and bearish traders.