Whales with a lot of money to spend have taken a noticeably bearish stance on United States Steel.
Looking at options history for United States Steel X we detected 21 trades.
If we consider the specifics of each trade, it is accurate to state that 42% of the investors opened trades with bullish expectations and 52% with bearish.
From the overall spotted trades, 13 are puts, for a total amount of $563,090 and 8, calls, for a total amount of $509,147.
Expected Price Movements
Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $25.0 to $50.0 for United States Steel over the recent three months.
Volume & Open Interest Development
In today's trading context, the average open interest for options of United States Steel stands at 16114.38, with a total volume reaching 30,718.00. The accompanying chart delineates the progression of both call and put option volume and open interest for high-value trades in United States Steel, situated within the strike price corridor from $25.0 to $50.0, throughout the last 30 days.
United States Steel 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| X | CALL | TRADE | BEARISH | 06/21/24 | $11.15 | $10.0 | $10.35 | $27.00 | $103.5K | 2.0K | 100 |
| X | CALL | SWEEP | NEUTRAL | 06/21/24 | $10.0 | $10.0 | $10.0 | $27.00 | $100.0K | 2.0K | 200 |
| X | CALL | SWEEP | BEARISH | 06/21/24 | $9.6 | $9.35 | $9.5 | $27.00 | $95.0K | 2.0K | 200 |
| X | PUT | SWEEP | BULLISH | 06/21/24 | $2.16 | $1.59 | $2.0 | $37.00 | $74.0K | 7.4K | 720 |
| X | PUT | SWEEP | BULLISH | 01/17/25 | $11.65 | $11.2 | $11.2 | $47.00 | $73.9K | 7.1K | 68 |
About United States Steel
United States Steel Corp operates primarily in the United States but also has a steelmaking capacity in Slovakia. The company's operating segments include North American Flat-Rolled (Flat-Rolled), Mini Mill, U. S. Steel Europe (USSE), and Tubular Products (Tubular). The Flat-Rolled segment includes U. S. Steel's integrated steel plants and equity investees in North America involved in the production of slabs, strip mill plates, sheets, and tin mill products, as well as all iron ore and coke production facilities in the United States. It primarily serves North American customers in the service center, conversion, transportation, construction, container, and appliance, and electrical markets.
After a thorough review of the options trading surrounding United States Steel, we move to examine the company in more detail. This includes an assessment of its current market status and performance.
Current Position of United States Steel
- With a trading volume of 3,200,669, the price of X is down by -3.92%, reaching $35.88.
- Current RSI values indicate that the stock is may be approaching oversold.
- Next earnings report is scheduled for 69 days from now.
What The Experts Say On United States Steel
In the last month, 2 experts released ratings on this stock with an average target price of $45.5.
- An analyst from Morgan Stanley has elevated its stance to Overweight, setting a new price target at $48.
- An analyst from JP Morgan persists with their Neutral rating on United States Steel, maintaining a target price of $43.
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 United States Steel with Benzinga Pro for real-time alerts.
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