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 trades 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.
So how do we know what these investors just did?
Today, Benzinga's options scanner spotted 8 uncommon options trades for Cameco.
This isn't normal.
The overall sentiment of these big-money traders is split between 75% bullish and 25%, bearish.
Out of all of the special options we uncovered, 2 are puts, for a total amount of $110,940, and 6 are calls, for a total amount of $226,608.
Predicted Price Range
Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $37.0 to $46.0 for Cameco over the recent three months.
Analyzing Volume & Open Interest
In terms of liquidity and interest, the mean open interest for Cameco options trades today is 1252.14 with a total volume of 2,484.00.
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 $37.0 to $46.0 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 | PUT | SWEEP | BEARISH | 10/18/24 | $6.05 | $5.85 | $5.85 | $45.00 | $58.5K | 58 | 101 |
| CCJ | PUT | SWEEP | BULLISH | 11/15/24 | $7.7 | $7.6 | $7.6 | $46.00 | $52.4K | 47 | 69 |
| CCJ | CALL | TRADE | BULLISH | 09/06/24 | $0.5 | $0.42 | $0.5 | $39.00 | $49.9K | 1.6K | 1.0K |
| CCJ | CALL | TRADE | BULLISH | 01/16/26 | $9.5 | $8.6 | $9.5 | $37.00 | $47.5K | 639 | 50 |
| CCJ | CALL | TRADE | BULLISH | 09/20/24 | $1.39 | $1.37 | $1.39 | $40.00 | $34.7K | 6.2K | 580 |
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.
Present Market Standing of Cameco
- Trading volume stands at 2,015,411, with CCJ's price up by 3.89%, positioned at $39.42.
- RSI indicators show the stock to be may be approaching overbought.
- Earnings announcement expected in 55 days.
Expert Opinions on Cameco
In the last month, 2 experts released ratings on this stock with an average target price of $71.865.
- An analyst from Scotiabank persists with their Outperform rating on Cameco, maintaining a target 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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