Deep-pocketed investors have adopted a bearish approach towards Nucor NUE, 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 NUE usually suggests something big is about to happen.
We gleaned this information from our observations today when Benzinga's options scanner highlighted 12 extraordinary options activities for Nucor. This level of activity is out of the ordinary.
The general mood among these heavyweight investors is divided, with 25% leaning bullish and 58% bearish. Among these notable options, 5 are puts, totaling $179,870, and 7 are calls, amounting to $361,723.
What's The Price Target?
Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $160.0 to $200.0 for Nucor over the last 3 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 Nucor'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 Nucor's whale trades within a strike price range from $160.0 to $200.0 in the last 30 days.
Nucor Option Activity Analysis: Last 30 Days
Significant Options Trades Detected:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| NUE | CALL | SWEEP | BEARISH | 01/16/26 | $20.5 | $20.1 | $20.2 | $200.00 | $109.1K | 418 | 1 |
| NUE | CALL | TRADE | NEUTRAL | 01/16/26 | $30.2 | $29.3 | $29.8 | $180.00 | $59.6K | 101 | 22 |
| NUE | CALL | SWEEP | BULLISH | 05/17/24 | $2.15 | $2.1 | $2.15 | $177.50 | $50.9K | 96 | 4 |
| NUE | CALL | TRADE | BEARISH | 10/18/24 | $16.4 | $16.1 | $16.2 | $170.00 | $46.9K | 2 | 30 |
| NUE | CALL | TRADE | BEARISH | 10/18/24 | $15.2 | $15.0 | $15.0 | $170.00 | $43.5K | 2 | 29 |
About Nucor
Nucor Corp manufactures steel and steel products. The company also produces direct reduced iron for use in its steel mills. The operations include international trading and sales companies that buy and sell steel and steel products manufactured by the company and others. The operating business segments are: steel mills, steel products, and raw materials, the steel mills segment derives maximum revenue. The steel mills segment includes carbon and alloy steel in sheet, bars, structural and plate; steel trading businesses; rebar distribution businesses; and Nucor's equity method investments in NuMit and NJSM.
After a thorough review of the options trading surrounding Nucor, we move to examine the company in more detail. This includes an assessment of its current market status and performance.
Nucor's Current Market Status
- With a trading volume of 928,197, the price of NUE is up by 1.41%, reaching $175.19.
- Current RSI values indicate that the stock is may be oversold.
- Next earnings report is scheduled for 88 days from now.
Professional Analyst Ratings for Nucor
A total of 3 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $195.0.
- An analyst from JP Morgan has decided to maintain their Neutral rating on Nucor, which currently sits at a price target of $195.
- An analyst from BMO Capital persists with their Market Perform rating on Nucor, maintaining a target price of $200.
- An analyst from JP Morgan persists with their Neutral rating on Nucor, maintaining a target price of $190.
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 Nucor, 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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