What the Options Market Tells Us About Nucor

Investors with a lot of money to spend have taken a bearish 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 50%, bearish.

Out of all of the special options we uncovered, 3 are puts, for a total amount of $271,045, and 5 are calls, for a total amount of $265,634.

Predicted Price Range

Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $105.0 to $180.0 for Nucor over the last 3 months.

Insights into Volume & Open Interest

Examining the volume and open interest provides crucial insights into stock research. This information is key in gauging liquidity and interest levels for Nucor's options at certain strike prices. Below, we present a snapshot of the trends in volume and open interest for calls and puts across Nucor's significant trades, within a strike price range of $105.0 to $180.0, over the past month.

Nucor 30-Day Option Volume & Interest Snapshot

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.

Following our analysis of the options activities associated with Nucor, we pivot to a closer look at the company's own performance.

Where Is Nucor Standing Right Now?

• With a volume of 933,388, the price of NUE is down -0.06% at $127.48.
• RSI indicators hint that the underlying stock is currently neutral between overbought and oversold.
• Next earnings are expected to be released in 33 days.

Professional Analyst Ratings for Nucor

In the last month, 3 experts released ratings on this stock with an average target price of $161.0.

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. * An analyst from UBS has elevated its stance to Buy, setting a new price target at $160. * 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 has decided to maintain their Overweight rating on Nucor, which currently sits at a price target 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.