Options traders are the most bullish on BMNR in 52 weeks. The put/call ratio hit 0.40 on May 11 — 2.4 standard deviations below its 20-day mean. That is the lowest PCR reading in a full year.
The stock gained 3.8% on the day. It is up 8.2% over the past month.
The PCR of 0.40 compares to a 20-day average of 0.43. The standard deviation is narrow, making the move statistically significant. Call buying is dominant. Traders are paying up for upside exposure in Bitmine Immersion Technologies.
The 52-week PCR range runs from 0.00 to 0.90. At 0.40, the current reading sits near the floor of that range.
Short interest in BMNR has fallen sharply. SI % of FF dropped 11% in a week to 8.0% of free float — the lowest level in a month. Over the past 30 days, short interest is down nearly 30%.
That retreat accelerated through late April and into May. From a peak of 38.3 million shares short on April 13, positions have been cut to 22.8 million as of May 8.
The ORTEX short score stands at 39.4, down from 43.9 just two weeks ago. The score has been falling steadily since May 1.
The cost to borrow swung sharply. CTB was just 0.0086% on May 1 — an outlier reading. It has since corrected to 0.44% as of May 8, in line with the range seen across April.
Availability is wide. The lending market is not tight. With short interest falling and borrow costs at normal levels, there is little friction for shorts to cover.
Several large institutions added shares recently. BlackRock added 5.6 million shares as of April 30. Vanguard added 14.4 million. ARK Investment Management added nearly 2.0 million shares in Q1 2026.
Crypto-correlated peers are also broadly higher on the week. MARA is up 12.9% over seven days. CLSK is up 16.7%. MSTR is up 5.9%.
What to watch: Whether the record-low PCR is sustained or reverts toward the 0.43 mean in the sessions ahead — and whether the short interest decline continues below the 8% level.
See the live data behind this article on ORTEX.
Open BMNR on ORTEX →ORTEX Market Intelligence content is generated by AI from a snapshot of ORTEX's proprietary data. Content is informational only and does not constitute investment advice.
