Investors with a lot of money to spend have taken a bullish stance on Scorpio Tankers STNG.
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 STNG, it often means somebody knows something is about to happen.
Today, Benzinga's options scanner spotted 10 options trades for Scorpio Tankers.
This isn't normal.
The overall sentiment of these big-money traders is split between 80% bullish and 20%, bearish.
Out of all of the options we uncovered, there was 1 put, for a total amount of $265,100, and 9, calls, for a total amount of $490,750.
Predicted Price Range
Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $60.0 to $70.0 for Scorpio Tankers during the past quarter.
Insights into Volume & Open Interest
In terms of liquidity and interest, the mean open interest for Scorpio Tankers options trades today is 1102.33 with a total volume of 2,145.00.
In the following chart, we are able to follow the development of volume and open interest of call and put options for Scorpio Tankers's big money trades within a strike price range of $60.0 to $70.0 over the last 30 days.
Scorpio Tankers Option Activity Analysis: Last 30 Days
Largest Options Trades Observed:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| STNG | PUT | SWEEP | BULLISH | 02/16/24 | $70.00 | $265.1K | 514 | 1.0K |
| STNG | CALL | TRADE | BULLISH | 06/21/24 | $65.00 | $109.8K | 845 | 184 |
| STNG | CALL | SWEEP | BULLISH | 06/21/24 | $65.00 | $80.2K | 845 | 81 |
| STNG | CALL | TRADE | BULLISH | 02/16/24 | $65.00 | $65.9K | 2.4K | 207 |
| STNG | CALL | TRADE | NEUTRAL | 02/16/24 | $65.00 | $63.0K | 2.4K | 107 |
About Scorpio Tankers
Scorpio Tankers Inc is a provider of marine transportation of petroleum products. It owns, lease finances or bareboat charters-in 113 product tankers namely 39 LR2 tankers, 60 MR tankers and 14 Handymax tankers. The company's fleet of tankers is the largest, most eco-friendly and newest fleet on the water hauling clean petroleum products.
Scorpio Tankers's Current Market Status
- With a volume of 927,752, the price of STNG is up 0.77% at $72.2.
- RSI indicators hint that the underlying stock may be approaching overbought.
- Next earnings are expected to be released in 17 days.
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.
If you want to stay updated on the latest options trades for Scorpio Tankers, Benzinga Pro gives you real-time options trades alerts.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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