Deep-pocketed investors have adopted a bullish approach towards United States Steel X, and it's something market players shouldn't ignore. Our tracking of public options records at Benzinga unveiled this significant move today. The identity of these investors remains unknown, but such a substantial move in X usually suggests something big is about to happen.
We gleaned this information from our observations today when Benzinga's options scanner highlighted 64 extraordinary options activities for United States Steel. This level of activity is out of the ordinary.
The general mood among these heavyweight investors is divided, with 43% leaning bullish and 43% bearish. Among these notable options, 35 are puts, totaling $4,304,960, and 29 are calls, amounting to $2,035,636.
Expected Price Movements
Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $25.0 to $50.0 for United States Steel during the past quarter.
Volume & Open Interest Trends
In today's trading context, the average open interest for options of United States Steel stands at 13573.24, with a total volume reaching 70,295.00. The accompanying chart delineates the progression of both call and put option volume and open interest for high-value trades in United States Steel, situated within the strike price corridor from $25.0 to $50.0, throughout 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 | PUT | TRADE | NEUTRAL | 01/17/25 | $12.75 | $12.45 | $12.6 | $45.00 | $1.8M | 64.3K | 1.6K |
| X | CALL | TRADE | BULLISH | 11/15/24 | $2.7 | $2.33 | $2.6 | $40.00 | $260.0K | 2.3K | 1.3K |
| X | PUT | TRADE | BEARISH | 01/17/25 | $8.95 | $8.7 | $8.9 | $40.00 | $181.5K | 118.0K | 328 |
| X | PUT | TRADE | BEARISH | 01/17/25 | $16.65 | $16.0 | $16.65 | $50.00 | $166.4K | 4.1K | 100 |
| X | CALL | SWEEP | BEARISH | 10/18/24 | $3.4 | $2.75 | $3.2 | $35.00 | $161.8K | 16.1K | 2.9K |
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.
Following our analysis of the options activities associated with United States Steel, we pivot to a closer look at the company's own performance.
Current Position of United States Steel
- With a trading volume of 16,865,842, the price of X is up by 4.04%, reaching $34.74.
- Current RSI values indicate that the stock is is currently neutral between overbought and oversold.
- Next earnings report is scheduled for 42 days from now.
Expert Opinions on United States Steel
Over the past month, 4 industry analysts have shared their insights on this stock, proposing an average target price of $42.6425.
- An analyst from JP Morgan has elevated its stance to Overweight, setting a new price target at $42.
- Maintaining their stance, an analyst from Morgan Stanley continues to hold a Overweight rating for United States Steel, targeting a price of $49.
- An analyst from Jefferies persists with their Buy rating on United States Steel, maintaining a target price of $41.
- An analyst from GLJ Research upgraded its action to Buy with a price target of $38.
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 United States Steel with Benzinga Pro for real-time alerts.
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