Whales with a lot of money to spend have taken a noticeably bearish stance on Scorpio Tankers.
Looking at options history for Scorpio Tankers STNG we detected 8 trades.
If we consider the specifics of each trade, it is accurate to state that 37% of the investors opened trades with bullish expectations and 62% with bearish.
From the overall spotted trades, 4 are puts, for a total amount of $149,690 and 4, calls, for a total amount of $197,450.
Expected Price Movements
Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $60.0 to $75.0 for Scorpio Tankers during the past quarter.
Analyzing Volume & Open Interest
In today's trading context, the average open interest for options of Scorpio Tankers stands at 1109.5, with a total volume reaching 1,776.00. The accompanying chart delineates the progression of both call and put option volume and open interest for high-value trades in Scorpio Tankers, situated within the strike price corridor from $60.0 to $75.0, throughout the last 30 days.
Scorpio Tankers Call and Put Volume: 30-Day Overview
Significant Options Trades Detected:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| STNG | CALL | SWEEP | BULLISH | 07/19/24 | $60.00 | $70.9K | 1.7K | 100 |
| STNG | CALL | SWEEP | BULLISH | 06/21/24 | $75.00 | $55.0K | 260 | 104 |
| STNG | PUT | SWEEP | BEARISH | 02/16/24 | $66.00 | $39.7K | 0 | 265 |
| STNG | PUT | SWEEP | BEARISH | 02/23/24 | $65.00 | $39.3K | 2.4K | 445 |
| STNG | PUT | TRADE | BEARISH | 02/23/24 | $65.00 | $37.2K | 2.4K | 712 |
About Scorpio Tankers
Scorpio Tankers Inc is a provider of marine transportation of petroleum products. It owns, lease finances or bareboat charters-in 113 product tankers namely 39 LR2 tankers, 60 MR tankers and 14 Handymax tankers. The company's fleet of tankers is the largest, most eco-friendly and newest fleet on the water hauling clean petroleum products.
After a thorough review of the options trading surrounding Scorpio Tankers, we move to examine the company in more detail. This includes an assessment of its current market status and performance.
Where Is Scorpio Tankers Standing Right Now?
- With a volume of 534,332, the price of STNG is up 1.66% at $70.3.
- RSI indicators hint that the underlying stock may be overbought.
- Next earnings are expected to be released in 21 days.
Trading options involves greater risks but also offers the potential for higher profits. Savvy traders mitigate these risks through ongoing education, strategic trade adjustments, utilizing various indicators, and staying attuned to market dynamics. Keep up with the latest options trades for Scorpio Tankers with Benzinga Pro for real-time alerts.
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