Smart Money Is Betting Big In CCJ Options

Investors with a lot of money to spend have taken a bearish stance on Cameco CCJ.

And retail traders should know.

We noticed this today when the positions 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 CCJ, it often means somebody knows something is about to happen.

Today, Benzinga's options scanner spotted 13 options trades for Cameco.

This isn't normal.

The overall sentiment of these big-money traders is split between 46% bullish and 53%, bearish.

Out of all of the options we uncovered, there was 1 put, for a total amount of $64,000, and 12, calls, for a total amount of $1,280,522.

Projected Price Targets

Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $15.0 to $60.0 for Cameco over the recent three months.

Volume & Open Interest Trends

Looking at the volume and open interest is an insightful way to conduct due diligence on a stock.

This data can help you track the liquidity and interest for Cameco's options for a given strike price.

Below, we can observe the evolution of the volume and open interest of calls and puts, respectively, for all of Cameco's whale activity within a strike price range from $15.0 to $60.0 in the last 30 days.

Cameco Call and Put Volume: 30-Day Overview

Biggest Options Spotted:

About Cameco

Cameco Corp is one of the world's largest uranium producers. When operating at normal production, the flagship McArthur River mine in Saskatchewan accounts for roughly 50% of output in normal market conditions. Amid years of uranium price weakness, the company has reduced production, instead purchasing from the spot market to meet contracted deliveries. In the long term, Cameco has the ability increase annual uranium production by restarting shut mines and investing in new ones. In addition to its large uranium mining business, Cameco operates uranium conversion and fabrication facilities.

Present Market Standing of Cameco

• Trading volume stands at 573,592, with CCJ's price up by 4.48%, positioned at $48.75.
• RSI indicators show the stock to be may be approaching overbought.
• Earnings announcement expected in 27 days.

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 Cameco options trades with real-time alerts from Benzinga Pro.