Investors with a lot of money to spend have taken a bearish 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 8 options trades for Southern Copper.
This isn't normal.
The overall sentiment of these big-money traders is split between 25% bullish and 37%, bearish.
Out of all of the options we uncovered, there was 1 put, for a total amount of $25,896, and 7, calls, for a total amount of $419,136.
Expected Price Movements
Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $115.0 to $155.0 for Southern Copper over the recent 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 $115.0 to $155.0 in the last 30 days.
Southern Copper Call and Put Volume: 30-Day Overview
Noteworthy Options Activity:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| SCCO | CALL | SWEEP | NEUTRAL | 07/19/24 | $7.6 | $7.4 | $7.6 | $130.00 | $84.3K | 434 | 149 |
| SCCO | CALL | TRADE | BULLISH | 06/21/24 | $15.5 | $15.4 | $15.5 | $115.00 | $77.5K | 610 | 172 |
| SCCO | CALL | SWEEP | BEARISH | 06/21/24 | $15.2 | $14.8 | $14.6 | $115.00 | $74.0K | 610 | 117 |
| SCCO | CALL | TRADE | NEUTRAL | 06/21/24 | $14.0 | $13.0 | $13.44 | $115.00 | $67.2K | 610 | 50 |
| SCCO | CALL | SWEEP | BEARISH | 07/19/24 | $1.85 | $1.45 | $1.54 | $150.00 | $57.7K | 2 | 375 |
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.
After a thorough review of the options trading surrounding Southern Copper, we move to examine the company in more detail. This includes an assessment of its current market status and performance.
Present Market Standing of Southern Copper
- Trading volume stands at 1,084,580, with SCCO's price up by 2.64%, positioned at $128.66.
- RSI indicators show the stock to be may be overbought.
- Earnings announcement expected in 66 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 Southern Copper options trades with real-time alerts from Benzinga Pro.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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