Investors with a lot of money to spend have taken a bullish stance on United States Steel X.
And retail traders should know.
We noticed this today when the trades 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 X, it often means somebody knows something is about to happen.
So how do we know what these investors just did?
Today, Benzinga's options scanner spotted 8 uncommon options trades for United States Steel.
This isn't normal.
The overall sentiment of these big-money traders is split between 62% bullish and 37%, bearish.
Out of all of the special options we uncovered, 6 are puts, for a total amount of $278,042, and 2 are calls, for a total amount of $126,730.
Expected Price Movements
Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $30.0 to $40.0 for United States Steel over the last 3 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 United States Steel'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 United States Steel's whale activity within a strike price range from $30.0 to $40.0 in the last 30 days.
United States Steel Call and Put Volume: 30-Day Overview
Significant Options Trades Detected:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| X | CALL | TRADE | BULLISH | 11/15/24 | $8.85 | $7.3 | $8.85 | $30.00 | $86.7K | 32 | 100 |
| X | PUT | TRADE | BULLISH | 01/17/25 | $6.35 | $6.3 | $6.3 | $40.00 | $63.0K | 119.5K | 100 |
| X | PUT | TRADE | BEARISH | 11/15/24 | $6.0 | $5.7 | $5.9 | $40.00 | $59.0K | 368 | 100 |
| X | PUT | TRADE | BEARISH | 09/20/24 | $5.0 | $3.6 | $5.0 | $40.00 | $49.5K | 902 | 100 |
| X | PUT | TRADE | BULLISH | 06/21/24 | $1.06 | $0.98 | $0.98 | $35.00 | $49.0K | 3.6K | 541 |
About United States Steel
United States Steel Corp operates primarily in the United States but also has a steelmaking capacity in Slovakia. The company's operating segments include North American Flat-Rolled (Flat-Rolled), Mini Mill, U. S. Steel Europe (USSE), and Tubular Products (Tubular). The Flat-Rolled segment includes U. S. Steel's integrated steel plants and equity investees in North America involved in the production of slabs, strip mill plates, sheets, and tin mill products, as well as all iron ore and coke production facilities in the United States. It primarily serves North American customers in the service center, conversion, transportation, construction, container, and appliance, and electrical markets.
Having examined the options trading patterns of United States Steel, our attention now turns directly to the company. This shift allows us to delve into its present market position and performance
Present Market Standing of United States Steel
- With a volume of 1,116,654, the price of X is down -0.19% at $36.68.
- RSI indicators hint that the underlying stock is currently neutral between overbought and oversold.
- Next earnings are expected to be released in 65 days.
Expert Opinions on United States Steel
3 market experts have recently issued ratings for this stock, with a consensus target price of $45.333333333333336.
- An analyst from Jefferies downgraded its action to Buy with a price target of $45.
- An analyst from Morgan Stanley has elevated its stance to Overweight, setting a new price target at $48.
- An analyst from JP Morgan has decided to maintain their Neutral rating on United States Steel, which currently sits at a price target of $43.
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 United States Steel 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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Date of Trade | ticker | Put/Call | Strike Price | DTE | Sentiment |
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