Deep-pocketed investors have adopted a bearish approach towards Cameco CCJ, 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 CCJ usually suggests something big is about to happen.
We gleaned this information from our observations today when Benzinga's options scanner highlighted 22 extraordinary options activities for Cameco. This level of activity is out of the ordinary.
The general mood among these heavyweight investors is divided, with 13% leaning bullish and 31% bearish. Among these notable options, 9 are puts, totaling $483,673, and 13 are calls, amounting to $1,667,990.
Expected Price Movements
Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $40.0 to $70.0 for Cameco over the last 3 months.
Insights into Volume & Open Interest
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 Cameco'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 Cameco's whale trades within a strike price range from $40.0 to $70.0 in the last 30 days.
Cameco Option Activity Analysis: Last 30 Days
Largest Options Trades Observed:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| CCJ | CALL | TRADE | NEUTRAL | 09/20/24 | $2.3 | $2.21 | $2.25 | $60.00 | $1.1M | 4.0K | 5.0K |
| CCJ | PUT | SWEEP | NEUTRAL | 01/17/25 | $3.15 | $3.05 | $3.1 | $40.00 | $145.1K | 1.7K | 1.1K |
| CCJ | PUT | TRADE | NEUTRAL | 01/17/25 | $14.2 | $14.0 | $14.1 | $60.00 | $114.2K | 429 | 162 |
| CCJ | CALL | TRADE | NEUTRAL | 09/20/24 | $3.5 | $3.3 | $3.4 | $55.00 | $76.5K | 2.4K | 255 |
| CCJ | CALL | TRADE | BULLISH | 01/16/26 | $6.75 | $6.6 | $6.7 | $70.00 | $67.0K | 1.6K | 367 |
About Cameco
Cameco Corp is a provider of uranium needed to generate clean, reliable baseload electricity around the globe. one of those uranium producers. Cameco has three reportable segments, uranium, fuel services and Westinghouse. It derives maximum revenue from Uranium Segment. It has some projects namely; Millennium, Yeelirrie, Kintyre and Exploration. The company operates in Canada, Kazakhstan, Germany, Australia and United States.
In light of the recent options history for Cameco, it's now appropriate to focus on the company itself. We aim to explore its current performance.
Where Is Cameco Standing Right Now?
- With a trading volume of 1,666,157, the price of CCJ is up by 2.83%, reaching $48.63.
- Current RSI values indicate that the stock is may be approaching overbought.
- Next earnings report is scheduled for 7 days from now.
Expert Opinions on Cameco
1 market experts have recently issued ratings for this stock, with a consensus target price of $55.0.
- Reflecting concerns, an analyst from Goldman Sachs lowers its rating to Buy with a new price target of $55.
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 Cameco with Benzinga Pro for real-time alerts.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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