Financial giants have made a conspicuous bullish move on Suncor Energy. Our analysis of options history for Suncor Energy SU revealed 8 unusual trades.
Delving into the details, we found 50% of traders were bullish, while 50% showed bearish tendencies. Out of all the trades we spotted, 5 were puts, with a value of $439,300, and 3 were calls, valued at $182,640.
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 $32.0 to $38.0 for Suncor Energy over the last 3 months.
Analyzing Volume & Open Interest
Assessing the volume and open interest is a strategic step in options trading. These metrics shed light on the liquidity and investor interest in Suncor Energy's options at specified strike prices. The forthcoming data visualizes the fluctuation in volume and open interest for both calls and puts, linked to Suncor Energy's substantial trades, within a strike price spectrum from $32.0 to $38.0 over the preceding 30 days.
Suncor Energy Option Volume And Open Interest Over 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| SU | PUT | SWEEP | BEARISH | 07/19/24 | $1.54 | $1.52 | $1.54 | $38.00 | $162.6K | 1.9K | 1.8K |
| SU | PUT | SWEEP | BEARISH | 07/19/24 | $1.5 | $1.49 | $1.5 | $38.00 | $134.7K | 1.9K | 4 |
| SU | CALL | SWEEP | BULLISH | 07/19/24 | $0.78 | $0.77 | $0.78 | $38.00 | $109.3K | 119 | 253 |
| SU | PUT | SWEEP | BULLISH | 07/19/24 | $1.56 | $1.54 | $1.54 | $38.00 | $60.6K | 1.9K | 1.4K |
| SU | PUT | TRADE | BEARISH | 07/19/24 | $1.5 | $1.49 | $1.5 | $38.00 | $43.9K | 1.9K | 909 |
About Suncor Energy
Suncor Energy Inc is an integrated energy company. The company's operations include oil sands development, production and upgrading, offshore oil production, petroleum refining in Canada and the U.S., and the company's Petro-Canada retail and wholesale distribution networks. The company is developing petroleum resources while advancing the transition to a low-emissions future through investment in power, and renewable fuels. It also conducts energy trading activities focused principally on the marketing and trading of crude oil, natural gas, byproducts, refined products and power. The company's operating segments include Oil Sands, Exploration and Production, and Refining and Marketing. Geographically, the company generates a majority of its revenue from Canada.
After a thorough review of the options trading surrounding Suncor Energy, we move to examine the company in more detail. This includes an assessment of its current market status and performance.
Suncor Energy's Current Market Status
- With a volume of 6,534,001, the price of SU is down -2.82% at $36.99.
- RSI indicators hint that the underlying stock may be approaching oversold.
- Next earnings are expected to be released in 60 days.
What Analysts Are Saying About Suncor Energy
A total of 3 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $49.0.
- Consistent in their evaluation, an analyst from TD Securities keeps a Hold rating on Suncor Energy with a target price of $57.
- Maintaining their stance, an analyst from Goldman Sachs continues to hold a Buy rating for Suncor Energy, targeting a price of $45.
- An analyst from Goldman Sachs has decided to maintain their Buy rating on Suncor Energy, which currently sits at a price target of $45.
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 Suncor Energy, 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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