Investors with a lot of money to spend have taken a bearish 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 37% bullish and 50%, bearish.
Out of all of the special options we uncovered, 4 are puts, for a total amount of $169,658, and 4 are calls, for a total amount of $115,353.
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 $38.0 to $43.0 for United States Steel during the past quarter.
Insights into Volume & Open Interest
In terms of liquidity and interest, the mean open interest for United States Steel options trades today is 3187.5 with a total volume of 3,019.00.
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 $38.0 to $43.0 over the last 30 days.
United States Steel Option Volume And Open Interest Over Last 30 Days
Noteworthy Options Activity:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| X | PUT | SWEEP | BEARISH | 10/18/24 | $5.85 | $5.1 | $5.85 | $42.00 | $77.1K | 172 | 132 |
| X | PUT | TRADE | BULLISH | 09/20/24 | $3.6 | $3.0 | $3.1 | $38.00 | $38.1K | 2.9K | 131 |
| X | CALL | SWEEP | BULLISH | 07/19/24 | $1.51 | $1.51 | $1.51 | $39.00 | $32.0K | 17.6K | 343 |
| X | CALL | TRADE | NEUTRAL | 07/19/24 | $1.48 | $1.26 | $1.35 | $40.00 | $29.7K | 4.2K | 2.2K |
| X | PUT | SWEEP | BEARISH | 01/17/25 | $4.65 | $3.05 | $4.65 | $38.00 | $28.8K | 0 | 100 |
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.
After a thorough review of the options trading surrounding United States Steel, we move to examine the company in more detail. This includes an assessment of its current market status and performance.
Where Is United States Steel Standing Right Now?
- With a volume of 2,139,986, the price of X is down -3.0% at $37.57.
- RSI indicators hint that the underlying stock is currently neutral between overbought and oversold.
- Next earnings are expected to be released in 51 days.
Professional Analyst Ratings for United States Steel
In the last month, 2 experts released ratings on this stock with an average target price of $46.5.
- An analyst from Jefferies has revised its rating downward to Buy, adjusting the price target to $45.
- Showing optimism, an analyst from Morgan Stanley upgrades its rating to Overweight with a revised price target of $48.
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 United States Steel with Benzinga Pro for real-time alerts.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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