Investors with a lot of money to spend have taken a bullish stance on Calumet Specialty Prods CLMT.
And retail traders should know.
We noticed this today when the positions showed up on publicly available options history that we track here at Benzinga.
Whether these are institutions or just wealthy individuals, we don't know. But when something this big happens with CLMT, it often means somebody knows something is about to happen.
Today, Benzinga's options scanner spotted 9 options trades for Calumet Specialty Prods.
This isn't normal.
The overall sentiment of these big-money traders is split between 77% bullish and 22%, bearish.
Out of all of the options we uncovered, there was 1 put, for a total amount of $51,000, and 8, calls, for a total amount of $1,042,216.
Expected Price Movements
After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $8.0 and $20.0 for Calumet Specialty Prods, spanning the last three months.
Volume & Open Interest Trends
In today's trading context, the average open interest for options of Calumet Specialty Prods stands at 3867.6, with a total volume reaching 4,761.00. The accompanying chart delineates the progression of both call and put option volume and open interest for high-value trades in Calumet Specialty Prods, situated within the strike price corridor from $8.0 to $20.0, throughout the last 30 days.
Calumet Specialty Prods Option Volume And Open Interest Over 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| CLMT | CALL | TRADE | BEARISH | 08/16/24 | $3.4 | $2.8 | $2.8 | $16.00 | $420.0K | 1.8K | 1 |
| CLMT | CALL | SWEEP | BULLISH | 07/19/24 | $2.95 | $2.9 | $2.95 | $15.00 | $154.5K | 5.0K | 1.6K |
| CLMT | CALL | SWEEP | BULLISH | 07/19/24 | $2.9 | $2.85 | $2.9 | $15.00 | $145.0K | 5.0K | 300 |
| CLMT | CALL | SWEEP | BULLISH | 07/19/24 | $2.95 | $2.9 | $2.95 | $15.00 | $111.5K | 5.0K | 1.3K |
| CLMT | CALL | SWEEP | BULLISH | 07/19/24 | $2.95 | $2.9 | $2.95 | $15.00 | $110.6K | 5.0K | 800 |
About Calumet Specialty Prods
Calumet Specialty Products Partners LP is an independent producer of specialty products, including lubricating oils, solvents, waxes, food-grade white oils, pharmaceutical-grade petrolatums, and other products, as well as a variety of fuel and fuel-related products, including asphalt and heavy fuel oils. The company operates through four segments namely the Specialty Products and Solutions segment, Montana/Renewables segment, Performance Brands segment, and corporate. The company generates the majority of its revenue from the Specialty Products and solutions segment, which consists of our customer-focused solutions and formulations businesses, covering multiple specialty product lines, anchored by a unique integrated complex in Northwest Louisiana.
Calumet Specialty Prods's Current Market Status
- Trading volume stands at 226,190, with CLMT's price down by -0.98%, positioned at $17.15.
- RSI indicators show the stock to be may be approaching overbought.
- Earnings announcement expected in 22 days.
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 Calumet Specialty Prods with Benzinga Pro for real-time alerts.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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