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AI HUT Forecast + Trading Strategies


Price Forecast:


Bearish   <->   Bullish

Bullish Case: Increased demand for Bitcoin mining and potential ETF approvals could drive HUT prices higher. Current volatility suggests traders may seek long positions. Profitability from AI-related contracts improves HUT's outlook.

Bearish Case: High operating costs and continued competition present risks. A downturn in crypto prices could significantly affect HUT's profitability. Implied volatility suggests traders are hedging against downside risks.

Potential Outcomes:

1) Bitcoin ETF approval - 80% chance could lift HUT.

2) Continued crypto volatility - 70% chance could bring price down.

3) AI-related contracts success - 60% chance boosting revenues.

4) Legal issues - 40% could impact market sentiment.

Trading Oracle: Given recent high implied volatility, consider a bullish debit spread buying $10 calls and selling $12 calls expiring in late August. This strategy caters to the anticipated upward shift while managing risk effectively, leveraging volatility for higher profit potential.

August 18, 2024


Hut 8 Mining Forecast

HUT      Hut 8 Mining

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Correlated Assets

Assets that tend to move strongly with HUT


WGMI Forecast + Options Trading Strategies   WGMI  Valkyrie ETF Trust II - Valkyrie Bitcoin Miners (0.92)


IREN Forecast + Options Trading Strategies   IREN  IREN (0.91)


EXR Forecast + Options Trading Strategies   EXR  Extra Space Storage (0.87)


WULF Forecast + Options Trading Strategies   WULF  TeraWulf (0.86)


TGTX Forecast + Options Trading Strategies   TGTX  TG Therapeutics (0.85)



Uncorrelated Assets

Assets with little price relationship to HUT


MXL Forecast + Options Trading Strategies   MXL  MaxLinear (0.0)


HE Forecast + Options Trading Strategies   HE  Hawaiian Electric Industries (-0.0)


BUR Forecast + Options Trading Strategies   BUR  Burford (-0.01)


SBAC Forecast + Options Trading Strategies   SBAC  SBA Communications (0.01)


SNY Forecast + Options Trading Strategies   SNY  Sanofi (-0.01)



Anticorrelated Assets

Assets that tend to move strongly against HUT


SPXS Forecast + Options Trading Strategies   SPXS  Direxion Daily S&P 500 Bear 3X Shares (-0.77)


CANE Forecast + Options Trading Strategies   CANE  Teucrium Sugar (-0.77)


DBI Forecast + Options Trading Strategies   DBI  Designer Brands (-0.78)


SH Forecast + Options Trading Strategies   SH  ProShares Short S&P500 (-0.78)


DRV Forecast + Options Trading Strategies   DRV  Direxion Daily Real Estate Bear 3X Shares (-0.82)



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