Deep-pocketed investors have adopted a bearish approach towards United States Steel X, 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 X usually suggests something big is about to happen.
We gleaned this information from our observations today when Benzinga's options scanner highlighted 18 extraordinary options activities for United States Steel. This level of activity is out of the ordinary.
The general mood among these heavyweight investors is divided, with 44% leaning bullish and 55% bearish. Among these notable options, 8 are puts, totaling $503,610, and 10 are calls, amounting to $417,641.
What's The Price Target?
Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $35.0 to $45.0 for United States Steel during the past quarter.
Analyzing Volume & Open Interest
In terms of liquidity and interest, the mean open interest for United States Steel options trades today is 22602.08 with a total volume of 7,045.00.
In the following chart, we are able to follow the development of volume and open interest of call and put options for United States Steel's big money trades within a strike price range of $35.0 to $45.0 over 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 | PUT | SWEEP | BEARISH | 01/17/25 | $3.4 | $3.35 | $3.4 | $35.00 | $119.0K | 8.0K | 501 |
| X | PUT | SWEEP | BEARISH | 01/17/25 | $8.55 | $8.05 | $8.55 | $45.00 | $93.1K | 121.5K | 109 |
| X | CALL | TRADE | BULLISH | 10/18/24 | $3.5 | $3.15 | $3.5 | $40.00 | $78.0K | 93 | 372 |
| X | PUT | TRADE | BEARISH | 10/18/24 | $5.5 | $5.0 | $5.4 | $41.00 | $66.9K | 1 | 125 |
| X | CALL | TRADE | BULLISH | 10/18/24 | $3.6 | $3.15 | $3.5 | $40.00 | $61.2K | 93 | 547 |
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.
In light of the recent options history for United States Steel, it's now appropriate to focus on the company itself. We aim to explore its current performance.
Where Is United States Steel Standing Right Now?
- Currently trading with a volume of 4,672,455, the X's price is up by 2.69%, now at $38.12.
- RSI readings suggest the stock is currently may be approaching overbought.
- Anticipated earnings release is in 56 days.
Professional Analyst Ratings for United States Steel
Over the past month, 3 industry analysts have shared their insights on this stock, proposing an average target price of $45.333333333333336.
- An analyst from Jefferies has revised its rating downward to Buy, adjusting the price target to $45.
- An analyst from JP Morgan persists with their Neutral rating on United States Steel, maintaining a target price of $43.
- In a positive move, an analyst from Morgan Stanley has upgraded their rating to Overweight and adjusted the price target to $48.
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.
Comments
Date of Trade | ticker | Put/Call | Strike Price | DTE | Sentiment |
|---|
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
