Behind the Scenes of Nucor's Latest Options Trends

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 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 NUE, 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 Nucor.

This isn't normal.

The overall sentiment of these big-money traders is split between 37% bullish and 12%, bearish.

Out of all of the special options we uncovered, 5 are puts, for a total amount of $420,907, and 3 are calls, for a total amount of $175,830.

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 $90.0 to $140.0 for Nucor during the past quarter.

Analyzing 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 Nucor's options at specified strike prices. The forthcoming data visualizes the fluctuation in volume and open interest for both calls and puts, linked to Nucor's substantial trades, within a strike price spectrum from $90.0 to $140.0 over the preceding 30 days.

Nucor Call and Put Volume: 30-Day Overview

Noteworthy Options Activity:

About Nucor

Nucor Corp manufactures steel and steel products. The company's reportable segments are steel mills, steel products, and raw materials. A majority of its revenue is derived from the steel mills segment, which is engaged in producing sheet steel (hot-rolled, cold-rolled, and galvanized), plate steel, structural steel (wide-flange beams, beam blanks, H-piling, and sheet piling), and bar steel products. Nucor manufactures steel principally from scrap steel and scrap steel substitutes using electric arc furnaces (EAFs) along with continuous casting and automated rolling mills. The steel mills segment sells its products mainly to steel service centers, fabricators, and manufacturers located in the United States, Canada, and Mexico.

In light of the recent options history for Nucor, it's now appropriate to focus on the company itself. We aim to explore its current performance.

Nucor's Current Market Status

• With a volume of 2,153,227, the price of NUE is up 0.24% at $129.81.
• RSI indicators hint that the underlying stock may be approaching oversold.
• Next earnings are expected to be released in 34 days.

Professional Analyst Ratings for Nucor

In the last month, 2 experts released ratings on this stock with an average target price of $161.5.

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. * An analyst from Morgan Stanley has decided to maintain their Overweight rating on Nucor, which currently sits at a price target of $167. * An analyst from JP Morgan persists with their Overweight rating on Nucor, maintaining a target price of $156.

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 Nucor with Benzinga Pro for real-time alerts.