A Closer Look at Teck Resources's Options Market Dynamics

Deep-pocketed investors have adopted a bearish approach towards Teck Resources TECK, and it's something market players shouldn't ignore. Our tracking of public options records at Benzinga unveiled this significant move today. The identity of these investors remains unknown, but such a substantial move in TECK usually suggests something big is about to happen.

We gleaned this information from our observations today when Benzinga's options scanner highlighted 11 extraordinary options activities for Teck Resources. This level of activity is out of the ordinary.

The general mood among these heavyweight investors is divided, with 27% leaning bullish and 72% bearish. Among these notable options, 2 are puts, totaling $80,680, and 9 are calls, amounting to $372,262.

Projected Price Targets

Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $39.0 to $45.0 for Teck Resources over the recent three months.

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 Teck Resources's options at specified strike prices. The forthcoming data visualizes the fluctuation in volume and open interest for both calls and puts, linked to Teck Resources's substantial trades, within a strike price spectrum from $39.0 to $45.0 over the preceding 30 days.

Teck Resources Option Volume And Open Interest Over Last 30 Days

Largest Options Trades Observed:

About Teck Resources

Teck is a diversified miner with coal, copper, and zinc operations in Canada, the United States, Chile, and Peru. Metallurgical coal is Teck's primary commodity in terms of EBITDA contribution, followed by copper and zinc. Teck is the world's second-largest exporter of seaborne metallurgical coal and is a top-three zinc miner. Its major new copper mine in Chile at the majority-owned Quebrada Blanca 2, in partnership with Sumitomo, will drive an increase in Teck's attributable copper production by roughly 80%. Along with a number of additional copper growth options, Teck's strategy is to rebalance its portfolio to low carbon metals such as copper. It sold its oil sands business in early 2023 and has agreed to sell its coal business, with the deal likely closing in the third quarter of 2024.

Having examined the options trading patterns of Teck Resources, our attention now turns directly to the company. This shift allows us to delve into its present market position and performance

Where Is Teck Resources Standing Right Now?

• Trading volume stands at 3,031,289, with TECK's price up by 2.83%, positioned at $40.09.
• RSI indicators show the stock to be may be overbought.
• Earnings announcement expected in 68 days.

What The Experts Say On Teck Resources

1 market experts have recently issued ratings for this stock, with a consensus target price of $45.0.

• An analyst from Morgan Stanley persists with their Overweight rating on Teck Resources, maintaining a target price of $45.

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 Teck Resources with Benzinga Pro for real-time alerts.