Investors with a lot of money to spend have taken a bullish stance on Scorpio Tankers STNG.
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 STNG, it often means somebody knows something is about to happen.
Today, Benzinga's options scanner spotted 9 options trades for Scorpio Tankers.
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 $45,666, and 8, calls, for a total amount of $268,800.
Projected Price Targets
After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $60.0 and $72.5 for Scorpio Tankers, spanning the last three months.
Volume & Open Interest Development
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 Scorpio Tankers'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 Scorpio Tankers's whale trades within a strike price range from $60.0 to $72.5 in the last 30 days.
Scorpio Tankers Call and Put Volume: 30-Day Overview
Significant Options Trades Detected:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| STNG | CALL | TRADE | BEARISH | 09/20/24 | $10.0 | $8.3 | $8.3 | $60.00 | $79.6K | 2.2K | 97 |
| STNG | PUT | SWEEP | BULLISH | 10/18/24 | $4.0 | $3.8 | $3.82 | $70.00 | $45.6K | 640 | 118 |
| STNG | CALL | SWEEP | BULLISH | 09/20/24 | $1.35 | $1.1 | $1.35 | $70.00 | $33.7K | 1.2K | 650 |
| STNG | CALL | SWEEP | BEARISH | 01/17/25 | $4.2 | $4.0 | $4.06 | $72.50 | $30.3K | 3.2K | 75 |
| STNG | CALL | TRADE | BULLISH | 09/20/24 | $1.25 | $1.1 | $1.25 | $70.00 | $25.0K | 1.2K | 1.0K |
About Scorpio Tankers
Scorpio Tankers Inc is a provider of marine transportation of petroleum products. It owns, lease finances or bareboat charters in hundred ten product tankers namely thirty nine LR2 tankers, fifty seven MR tankers and forteeen Handymax tankers. The company's fleet of tankers is the largest, most eco-friendly and newest fleet on the water hauling clean petroleum products. They provide seaborne transportation of crude oil and refined petroleum products worldwide. The company generates majority of its revenue from MR vessel.
Current Position of Scorpio Tankers
- With a volume of 697,412, the price of STNG is down -0.25% at $68.33.
- RSI indicators hint that the underlying stock may be approaching oversold.
- Next earnings are expected to be released in 63 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 Scorpio Tankers with Benzinga Pro for real-time alerts.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
