Whales with a lot of money to spend have taken a noticeably bullish stance on Teck Resources.
Looking at options history for Teck Resources TECK we detected 21 trades.
If we consider the specifics of each trade, it is accurate to state that 52% of the investors opened trades with bullish expectations and 47% with bearish.
From the overall spotted trades, 2 are puts, for a total amount of $700,500 and 19, calls, for a total amount of $1,227,800.
Projected Price Targets
Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $15.0 to $50.0 for Teck Resources over the last 3 months.
Volume & Open Interest Development
In terms of liquidity and interest, the mean open interest for Teck Resources options trades today is 353.12 with a total volume of 14,612.00.
In the following chart, we are able to follow the development of volume and open interest of call and put options for Teck Resources's big money trades within a strike price range of $15.0 to $50.0 over the last 30 days.
Teck Resources 30-Day Option Volume & Interest Snapshot
Significant Options Trades Detected:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| TECK | PUT | TRADE | NEUTRAL | 03/21/25 | $9.0 | $4.0 | $6.51 | $50.00 | $651.0K | 32 | 0 |
| TECK | CALL | SWEEP | BULLISH | 06/21/24 | $3.2 | $3.05 | $3.2 | $50.00 | $180.8K | 1.0K | 255 |
| TECK | CALL | TRADE | BULLISH | 05/03/24 | $9.7 | $9.1 | $9.7 | $40.00 | $161.0K | 0 | 332 |
| TECK | CALL | SWEEP | BULLISH | 06/21/24 | $3.7 | $3.55 | $3.65 | $50.00 | $109.1K | 1.0K | 2.7K |
| TECK | CALL | SWEEP | BULLISH | 06/21/24 | $3.4 | $3.3 | $3.4 | $50.00 | $102.3K | 1.0K | 1.4K |
About Teck Resources
Teck is a diversified miner with coal, copper, and zinc operations in Canada, the United States, Chile, and Peru. Metallurgical coal is Teck's primary commodity in terms of EBITDA contribution, followed by copper and zinc. Teck is the world's second-largest exporter of seaborne metallurgical coal and is a top-three zinc miner. Its major new copper mine in Chile at the majority-owned Quebrada Blanca 2, in partnership with Sumitomo, will drive an increase in Teck's attributable copper production by roughly 75%. Along with a number of additional copper growth options, Teck's strategy is to rebalance its portfolio to low carbon metals such as copper. It sold its oil sands business in early 2023 and has agreed to sell its coal business, with the deal likely closing in the third quarter of 2024.
Having examined the options trading patterns of Teck Resources, our attention now turns directly to the company. This shift allows us to delve into its present market position and performance
Teck Resources's Current Market Status
- With a volume of 4,830,808, the price of TECK is down -2.22% at $48.05.
- RSI indicators hint that the underlying stock may be approaching overbought.
- Next earnings are expected to be released in 15 days.
Professional Analyst Ratings for Teck Resources
In the last month, 1 experts released ratings on this stock with an average target price of $52.0.
- An analyst from Benchmark persists with their Buy rating on Teck Resources, maintaining a target price of $52.
Options are a riskier asset compared to just trading the stock, but they have higher profit potential. Serious options traders manage this risk by educating themselves daily, scaling in and out of trades, following more than one indicator, and following the markets closely.
If you want to stay updated on the latest options trades for Teck Resources, Benzinga Pro gives you real-time options trades alerts.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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Date of Trade | ticker | Put/Call | Strike Price | DTE | Sentiment |
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