HUT had short-term technical and fundamental support in place
Schaeffer's Weekly Options Countdown subscribers just quadrupled their money with our Bitcoin (BTC) mining stock Hut 8 Corp (NASDAQ:HUT) October 3, 2025 32.50-strike call. Below, we'll dive into what we saw leading up to last week, and how the winning trade played out.
At the time of our recommendation on Sept. 28, HUT was pulling back to support above its December highs, which is in line with a 50% retracement from all-time lows to its record peak.
Trendline support connecting highs from August 2023 and July 2023 was also in place, with upside potential to the 61% Fibonacci retracement level of its February 2022 peak near $40.
From a fundamental point of view, we also noted that Hut 8 is shifting its business to specialize in AI, toward high-performance computing (HPC) and AI hosting. This could command strength, compared to its more traditional mining peers.
We closed the position last Friday, allowing subscribers to pocket their 300% gain with the stock breaking past and ultimately closing above $40 for the first time since February 2022.
