Decoding Nucor's Options Activity: What's the Big Picture?

Investors with a lot of money to spend have taken a bullish stance on Nucor NUE.

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 NUE, it often means somebody knows something is about to happen.

Today, Benzinga's options scanner spotted 15 options trades for Nucor.

This isn't normal.

The overall sentiment of these big-money traders is split between 53% bullish and 20%, bearish.

Out of all of the options we uncovered, there was 1 put, for a total amount of $33,150, and 14, calls, for a total amount of $1,007,148.

What's The Price Target?

After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $115.0 and $160.0 for Nucor, spanning the last three 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 Nucor'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 Nucor's whale activity within a strike price range from $115.0 to $160.0 in the last 30 days.

Nucor 30-Day Option Volume & Interest Snapshot

Noteworthy Options Activity:

About Nucor

Nucor Corp manufactures steel and steel products. The company also produces direct reduced iron for use in its steel mills. The operations include international trading and sales companies that buy and sell steel and steel products manufactured by the company and others. The operating business segments are: steel mills, steel products, and raw materials, the steel mills segment derives maximum revenue. The steel mills segment includes carbon and alloy steel in sheet, bars, structural and plate; steel trading businesses; rebar distribution businesses; and Nucor's equity method investments in NuMit and NJSM.

After a thorough review of the options trading surrounding Nucor, we move to examine the company in more detail. This includes an assessment of its current market status and performance.

Current Position of Nucor

• With a trading volume of 644,325, the price of NUE is up by 2.27%, reaching $150.34.
• Current RSI values indicate that the stock is may be approaching overbought.
• Next earnings report is scheduled for 27 days from now.

Expert Opinions on Nucor

3 market experts have recently issued ratings for this stock, with a consensus target price of $168.0.

Turn $1000 into $1270 in just 20 days?

20-year pro options trader reveals his one-line chart technique that shows when to buy and sell. Copy his trades, which have had averaged a 27% profit every 20 days. Click here for access. * Maintaining their stance, an analyst from Morgan Stanley continues to hold a Overweight rating for Nucor, targeting a price of $170. * Showing optimism, an analyst from JP Morgan upgrades its rating to Overweight with a revised price target of $174. * An analyst from BMO Capital persists with their Market Perform rating on Nucor, maintaining a target price of $160.

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 Nucor options trades with real-time alerts from Benzinga Pro.