A whale with a lot of money to spend has taken a noticeably bullish stance on United States Steel.
Looking at options history for United States Steel X we detected 30 strange trades.
If we consider the specifics of each trade, it is accurate to state that 66% of the investors opened trades with bullish expectations and 33% with bearish.
From the overall spotted trades, 3 are puts, for a total amount of $144,020 and 27, calls, for a total amount of $1,945,395.
What's The Price Target?
Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $12.0 to $50.0 for United States Steel over the last 3 months.
Volume & Open Interest Development
In terms of liquidity and interest, the mean open interest for United States Steel options trades today is 3648.43 with a total volume of 10,236.00.
In the following chart, we are able to follow the development of volume and open interest of call and put options for United States Steel's big money trades within a strike price range of $12.0 to $50.0 over the last 30 days.
United States Steel Option Volume And Open Interest Over Last 30 Days
Biggest Options Spotted:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| X | CALL | TRADE | BEARISH | 01/20/23 | $12.00 | $245.5K | 757 | 100 |
| X | CALL | SWEEP | BULLISH | 01/20/23 | $40.00 | $190.2K | 6.8K | 292 |
| X | CALL | SWEEP | BULLISH | 09/16/22 | $35.00 | $164.6K | 1.5K | 253 |
| X | CALL | TRADE | BULLISH | 01/19/24 | $32.00 | $154.0K | 491 | 0 |
| X | CALL | TRADE | BULLISH | 01/19/24 | $37.00 | $130.6K | 396 | 34 |
Where Is United States Steel Standing Right Now?
- With a volume of 10,400,347, the price of X is up 3.88% at $37.26.
- RSI indicators hint that the underlying stock may be overbought.
- Next earnings are expected to be released in 12 days.
What The Experts Say On United States Steel:
- Morgan Stanley upgraded its action to Equal-Weight with a price target of $31
- Goldman Sachs has decided to maintain their Sell rating on United States Steel, which currently sits at a price target of $31.
- JP Morgan has decided to maintain their Underweight rating on United States Steel, which currently sits at a price target of $33.
Options are a riskier asset compared to just trading the stock, but they have higher profit potential. Serious options traders manage this risk by educating themselves daily, scaling in and out of trades, following more than one indicator, and following the markets closely.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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