Carpenter Tech Unusual Options Activity

Investors with a lot of money to spend have taken a bearish stance on Carpenter Tech CRS.

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 CRS, 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 10 uncommon options trades for Carpenter Tech.

This isn't normal.

The overall sentiment of these big-money traders is split between 10% bullish and 80%, bearish.

Out of all of the special options we uncovered, 2 are puts, for a total amount of $191,893, and 8 are calls, for a total amount of $3,129,074.

Projected Price Targets

Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $150.0 to $210.0 for Carpenter Tech over the recent three months.

Insights into Volume & Open Interest

Assessing the volume and open interest is a strategic step in options trading. These metrics shed light on the liquidity and investor interest in Carpenter Tech's options at specified strike prices. The forthcoming data visualizes the fluctuation in volume and open interest for both calls and puts, linked to Carpenter Tech's substantial trades, within a strike price spectrum from $150.0 to $210.0 over the preceding 30 days.

Carpenter Tech Option Volume And Open Interest Over Last 30 Days

Largest Options Trades Observed:

About Carpenter Tech

Carpenter Technology Corp supplies specialty metals to a variety of end markets, including aerospace and defense, industrial machinery and consumer durables, medical, and energy, among others. The company's reportable segments include; Specialty Alloys Operations and Performance Engineered Products. It generates maximum revenue from the Specialty Alloys Operations segment. The SAO segment is comprised of the company's alloy and stainless steel manufacturing operations. This includes operations performed at mills predominantly in Reading and Latrobe, Pennsylvania, and surrounding areas as well as South Carolina and Alabama. Geographically, the company derives its maximum revenue from the United States and the rest from Europe, Asia Pacific, Mexico, Canada, and other regions.

Having examined the options trading patterns of Carpenter Tech, our attention now turns directly to the company. This shift allows us to delve into its present market position and performance

Present Market Standing of Carpenter Tech

• Currently trading with a volume of 610,737, the CRS's price is up by 0.01%, now at $186.1.
• RSI readings suggest the stock is currently may be approaching oversold.
• Anticipated earnings release is in 54 days.

What Analysts Are Saying About Carpenter Tech

Over the past month, 1 industry analysts have shared their insights on this stock, proposing an average target price of $240.0.

Unusual Options Activity Detected: Smart Money on the Move

Benzinga Edge's Unusual Options board spots potential market movers before they happen. See what positions big money is taking on your favorite stocks. Click here for access. * An analyst from JP Morgan persists with their Overweight rating on Carpenter Tech, maintaining a target price of $240.

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 Carpenter Tech options trades with real-time alerts from Benzinga Pro.