Deep-pocketed investors have adopted a bearish approach towards Scorpio Tankers STNG, and it's something market players shouldn't ignore. Our tracking of public options records at Benzinga unveiled this significant move today. The identity of these investors remains unknown, but such a substantial move in STNG usually suggests something big is about to happen.
We gleaned this information from our observations today when Benzinga's options scanner highlighted 9 extraordinary options activities for Scorpio Tankers. This level of activity is out of the ordinary.
The general mood among these heavyweight investors is divided, with 22% leaning bullish and 77% bearish. Among these notable options, 6 are puts, totaling $343,479, and 3 are calls, amounting to $276,783.
Expected Price Movements
Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $60.0 to $70.0 for Scorpio Tankers over the recent three months.
Volume & Open Interest Trends
Looking at the volume and open interest is a powerful move while trading options. This data can help you track the liquidity and interest for Scorpio Tankers's options for a given strike price. Below, we can observe the evolution of the volume and open interest of calls and puts, respectively, for all of Scorpio Tankers's whale trades within a strike price range from $60.0 to $70.0 in the last 30 days.
Scorpio Tankers Call and Put Volume: 30-Day Overview
Largest Options Trades Observed:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| STNG | CALL | SWEEP | BEARISH | 03/15/24 | $70.00 | $150.1K | 1.7K | 1.1K |
| STNG | CALL | SWEEP | BULLISH | 09/20/24 | $60.00 | $96.5K | 5.5K | 131 |
| STNG | PUT | SWEEP | BEARISH | 06/21/24 | $60.00 | $83.4K | 347 | 1.3K |
| STNG | PUT | SWEEP | BULLISH | 06/21/24 | $60.00 | $83.1K | 347 | 1.5K |
| STNG | PUT | SWEEP | BEARISH | 03/15/24 | $60.00 | $81.8K | 1.4K | 3.1K |
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.
Having examined the options trading patterns of Scorpio Tankers, our attention now turns directly to the company. This shift allows us to delve into its present market position and performance
Scorpio Tankers's Current Market Status
- With a trading volume of 699,723, the price of STNG is down by -1.11%, reaching $68.75.
- Current RSI values indicate that the stock is may be approaching overbought.
- Next earnings report is scheduled for 70 days from now.
What Analysts Are Saying About Scorpio Tankers
In the last month, 3 experts released ratings on this stock with an average target price of $89.0.
- Maintaining their stance, an analyst from Evercore ISI Group continues to hold a Outperform rating for Scorpio Tankers, targeting a price of $91.
- An analyst from Jefferies downgraded its action to Buy with a price target of $90.
- Consistent in their evaluation, an analyst from JP Morgan keeps a Overweight rating on Scorpio Tankers with a target price of $86.
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.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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