Cipher Mining Inc. (CIFR) experienced a significant price surge intraday, with shares soaring 5.05% on Friday. The move captured significant attention from market participants.
The sharp upward movement appears to be driven by exceptionally bullish sentiment in the options market. Trading data revealed unusually high call option volume in Cipher Mining, with 97,609 calls trading, which is approximately twice the expected volume. Concurrently, the implied volatility for these options increased by over one percentage point to 109.47%, signaling heightened trader anticipation of future price movement.
This surge in bullish option flow, described as "directionally bullish" by market observers, suggests that investors are positioning for further gains in Cipher Mining's stock price, contributing to the strong intraday performance.
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