High-rolling investors have positioned themselves bullish on Cameco CCJ, and it's important for retail traders to take note. \This activity came to our attention today through Benzinga's tracking of publicly available options data. The identities of these investors are uncertain, but such a significant move in CCJ often signals that someone has privileged information.
Today, Benzinga's options scanner spotted 11 options trades for Cameco. This is not a typical pattern.
The sentiment among these major traders is split, with 81% bullish and 18% bearish. Among all the options we identified, there was one put, amounting to $25,810, and 10 calls, totaling $997,051.
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 $35.0 to $48.0 for Cameco over the last 3 months.
Volume & Open Interest Trends
In terms of liquidity and interest, the mean open interest for Cameco options trades today is 2794.11 with a total volume of 11,922.00.
In the following chart, we are able to follow the development of volume and open interest of call and put options for Cameco's big money trades within a strike price range of $35.0 to $48.0 over the last 30 days.
Cameco Option Activity Analysis: Last 30 Days
Biggest Options Spotted:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| CCJ | CALL | TRADE | BULLISH | 09/20/24 | $0.42 | $0.25 | $0.38 | $48.00 | $190.0K | 13.0K | 5.0K |
| CCJ | CALL | SWEEP | BULLISH | 09/20/24 | $1.49 | $1.48 | $1.49 | $43.00 | $177.7K | 1.0K | 54 |
| CCJ | CALL | TRADE | BULLISH | 10/18/24 | $1.62 | $1.5 | $1.62 | $45.00 | $162.0K | 82 | 1.0K |
| CCJ | CALL | SWEEP | BULLISH | 11/15/24 | $2.3 | $2.29 | $2.29 | $45.00 | $145.4K | 679 | 660 |
| CCJ | CALL | SWEEP | BULLISH | 10/18/24 | $0.88 | $0.87 | $0.88 | $48.00 | $121.4K | 14 | 1.3K |
About Cameco
Cameco Corp is a provider of uranium needed to generate clean, reliable baseload electricity around the globe. one of those uranium producers. Cameco has three reportable segments, uranium, fuel services and Westinghouse. It derives maximum revenue from Uranium Segment. It has some projects namely; Millennium, Yeelirrie, Kintyre and Exploration. The company operates in Canada, Kazakhstan, Germany, Australia and United States.
Having examined the options trading patterns of Cameco, our attention now turns directly to the company. This shift allows us to delve into its present market position and performance
Present Market Standing of Cameco
- Currently trading with a volume of 1,643,103, the CCJ's price is up by 0.44%, now at $41.4.
- RSI readings suggest the stock is currently may be approaching oversold.
- Anticipated earnings release is in 70 days.
Expert Opinions on Cameco
In the last month, 2 experts released ratings on this stock with an average target price of $71.865.
- Maintaining their stance, an analyst from Scotiabank continues to hold a Outperform rating for Cameco, targeting a price of $80.
- In a cautious move, an analyst from GLJ Research downgraded its rating to Buy, setting a price target of $63.
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 Cameco 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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