Investors with a lot of money to spend have taken a bullish stance on Cameco CCJ.
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 CCJ, it often means somebody knows something is about to happen.
Today, Benzinga's options scanner spotted 11 options trades for Cameco.
This isn't normal.
The overall sentiment of these big-money traders is split between 54% bullish and 27%, bearish.
Out of all of the options we uncovered, there was 1 put, for a total amount of $100,100, and 10, calls, for a total amount of $825,663.
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 $55.0 for Cameco over the last 3 months.
Analyzing Volume & Open Interest
Looking at the volume and open interest is an insightful way to conduct due diligence on a stock.
This data can help you track the liquidity and interest for Cameco'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 Cameco's whale activity within a strike price range from $35.0 to $55.0 in the last 30 days.
Cameco Call and Put Volume: 30-Day Overview
Biggest Options Spotted:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| CCJ | CALL | SWEEP | BULLISH | 09/20/24 | $3.65 | $3.35 | $3.4 | $41.00 | $186.3K | 13.8K | 2.8K |
| CCJ | CALL | SWEEP | BEARISH | 11/15/24 | $7.65 | $7.55 | $7.55 | $37.00 | $138.1K | 7 | 184 |
| CCJ | CALL | SWEEP | NEUTRAL | 09/20/24 | $3.1 | $3.05 | $3.1 | $41.00 | $123.3K | 13.8K | 410 |
| CCJ | CALL | SWEEP | BEARISH | 12/20/24 | $9.8 | $9.7 | $9.7 | $35.00 | $102.8K | 63 | 106 |
| CCJ | PUT | SWEEP | BULLISH | 12/20/24 | $3.6 | $3.5 | $3.5 | $42.00 | $100.1K | 303 | 288 |
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
Current Position of Cameco
- With a trading volume of 5,034,503, the price of CCJ is up by 6.59%, reaching $43.02.
- Current RSI values indicate that the stock is is currently neutral between overbought and oversold.
- Next earnings report is scheduled for 67 days from now.
Expert Opinions on Cameco
A total of 2 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $71.865.
- Maintaining their stance, an analyst from Scotiabank continues to hold a Outperform rating for Cameco, targeting a price of $80.
- An analyst from GLJ Research has revised its rating downward to Buy, adjusting the price target to $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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