Investors with a lot of money to spend have taken a bullish stance on Southern Copper SCCO.
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 SCCO, it often means somebody knows something is about to happen.
Today, Benzinga's options scanner spotted 11 options trades for Southern Copper.
This isn't normal.
The overall sentiment of these big-money traders is split between 54% bullish and 45%, bearish.
Out of all of the options we uncovered, there was 1 put, for a total amount of $84,379, and 10, calls, for a total amount of $573,631.
Predicted Price Range
After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $80.0 and $100.0 for Southern Copper, spanning the last three months.
Analyzing Volume & Open Interest
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 Southern Copper'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 Southern Copper's whale activity within a strike price range from $80.0 to $100.0 in the last 30 days.
Southern Copper Call and Put Volume: 30-Day Overview
Significant Options Trades Detected:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| SCCO | CALL | TRADE | BEARISH | 01/17/25 | $80.00 | $112.4K | 589 | 164 |
| SCCO | PUT | SWEEP | BEARISH | 05/17/24 | $100.00 | $84.3K | 50 | 312 |
| SCCO | CALL | TRADE | BULLISH | 01/17/25 | $80.00 | $57.0K | 589 | 144 |
| SCCO | CALL | TRADE | BULLISH | 01/17/25 | $80.00 | $57.0K | 589 | 124 |
| SCCO | CALL | TRADE | BULLISH | 01/17/25 | $80.00 | $57.0K | 589 | 124 |
About Southern Copper
Southern Copper Corp is an integrated producer of copper and other minerals and operates the mining, smelting, and refining facilities in Peru and Mexico. Its production includes copper, molybdenum, zinc, and silver. The company operates through the following segments: Peruvian operations, Mexican open-pit operations, and Mexican underground mining operations. Southern Copper generates the majority of its revenue from the sale of copper and the rest from the sale of non-copper products, such as molybdenum, silver, zinc, lead, and gold. The company's geographical segments are The Americas, Europe, and Asia.
In light of the recent options history for Southern Copper, it's now appropriate to focus on the company itself. We aim to explore its current performance.
Present Market Standing of Southern Copper
- With a trading volume of 901,194, the price of SCCO is up by 0.02%, reaching $103.03.
- Current RSI values indicate that the stock is may be overbought.
- Next earnings report is scheduled for 43 days from now.
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 Southern Copper with Benzinga Pro for real-time alerts.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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Date of Trade | ticker | Put/Call | Strike Price | DTE | Sentiment |
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