A whale with a lot of money to spend has taken a noticeably bearish stance on Steel Dynamics.
Looking at options history for Steel Dynamics STLD we detected 23 strange trades.
If we consider the specifics of each trade, it is accurate to state that 30% of the investors opened trades with bullish expectations and 69% with bearish.
From the overall spotted trades, 5 are puts, for a total amount of $403,568 and 18, calls, for a total amount of $1,471,676.
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 $45.0 to $120.0 for Steel Dynamics over the last 3 months.
Volume & Open Interest Development
In terms of liquidity and interest, the mean open interest for Steel Dynamics options trades today is 930.44 with a total volume of 3,670.00.
In the following chart, we are able to follow the development of volume and open interest of call and put options for Steel Dynamics's big money trades within a strike price range of $45.0 to $120.0 over the last 30 days.
Steel Dynamics 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 |
|---|---|---|---|---|---|---|---|---|
| STLD | CALL | TRADE | BEARISH | 01/19/24 | $100.00 | $428.0K | 1.8K | 206 |
| STLD | CALL | TRADE | BEARISH | 01/19/24 | $100.00 | $334.4K | 1.8K | 406 |
| STLD | PUT | SWEEP | BEARISH | 08/19/22 | $90.00 | $132.9K | 245 | 421 |
| STLD | PUT | SWEEP | BEARISH | 12/16/22 | $120.00 | $122.8K | 0 | 40 |
| STLD | CALL | TRADE | BULLISH | 08/19/22 | $95.00 | $83.4K | 162 | 116 |
Where Is Steel Dynamics Standing Right Now?
- With a volume of 2,354,183, the price of STLD is up 4.87% at $95.94.
- RSI indicators hint that the underlying stock may be approaching overbought.
- Next earnings are expected to be released in 88 days.
What The Experts Say On Steel Dynamics:
- JP Morgan has decided to maintain their Overweight rating on Steel Dynamics, which currently sits at a price target of $117.
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.
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