Whales with a lot of money to spend have taken a noticeably bullish stance on United States Steel.
Looking at options history for United States Steel X we detected 10 trades.
If we consider the specifics of each trade, it is accurate to state that 80% of the investors opened trades with bullish expectations and 10% with bearish.
From the overall spotted trades, 4 are puts, for a total amount of $205,287 and 6, calls, for a total amount of $755,217.
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 $25.0 and $45.0 for United States Steel, spanning the last three months.
Analyzing 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 United States Steel'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 United States Steel's whale trades within a strike price range from $25.0 to $45.0 in the last 30 days.
United States Steel 30-Day Option Volume & Interest Snapshot
Largest Options Trades Observed:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| X | CALL | TRADE | BULLISH | 11/15/24 | $1.75 | $1.41 | $1.7 | $45.00 | $340.0K | 4.4K | 2.0K |
| X | CALL | TRADE | BULLISH | 01/16/26 | $5.6 | $5.3 | $5.6 | $45.00 | $168.0K | 1.2K | 0 |
| X | CALL | SWEEP | BEARISH | 08/02/24 | $2.69 | $0.0 | $0.71 | $39.00 | $152.8K | 4 | 2.0K |
| X | PUT | TRADE | BULLISH | 01/17/25 | $8.45 | $7.6 | $7.9 | $45.00 | $79.0K | 65.0K | 100 |
| X | PUT | TRADE | NEUTRAL | 01/17/25 | $6.2 | $3.55 | $5.1 | $40.00 | $50.9K | 118.9K | 100 |
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.
Present Market Standing of United States Steel
- Currently trading with a volume of 3,078,267, the X's price is up by 3.54%, now at $39.45.
- RSI readings suggest the stock is currently may be overbought.
- Anticipated earnings release is in 9 days.
Expert Opinions on United States Steel
Over the past month, 2 industry analysts have shared their insights on this stock, proposing an average target price of $42.5.
- Consistent in their evaluation, an analyst from JP Morgan keeps a Neutral rating on United States Steel with a target price of $40.
- An analyst from BMO Capital upgraded its action to Outperform with a price target of $45.
Options trading presents higher risks and potential rewards. Astute traders manage these risks by continually educating themselves, adapting their strategies, monitoring multiple indicators, and keeping a close eye on market movements. Stay informed about the latest United States Steel options trades with real-time alerts from Benzinga Pro.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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