Investors with significant funds have taken a bearish position in United States Steel X, a development that retail traders should be aware of.
This was brought to our attention today through our monitoring of publicly accessible options data at Benzinga. The exact nature of these investors remains a mystery, but such a major move in X usually indicates foreknowledge of upcoming events.
Today, Benzinga's options scanner identified 9 options transactions for United States Steel. This is an unusual occurrence. The sentiment among these large-scale traders is mixed, with 22% being bullish and 66% bearish. Of all the options we discovered, 8 are puts, valued at $401,834, and there was a single call, worth $32,000.
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 $35.0 and $55.0 for United States Steel, spanning the last three months.
Volume & Open Interest Development
Examining the volume and open interest provides crucial insights into stock research. This information is key in gauging liquidity and interest levels for United States Steel's options at certain strike prices. Below, we present a snapshot of the trends in volume and open interest for calls and puts across United States Steel's significant trades, within a strike price range of $35.0 to $55.0, over the past month.
United States Steel Option Activity Analysis: Last 30 Days
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 | TRADE | NEUTRAL | 09/20/24 | $9.6 | $9.25 | $9.45 | $45.00 | $94.4K | 14.7K | 111 |
| X | PUT | TRADE | BEARISH | 09/20/24 | $9.5 | $9.25 | $9.5 | $45.00 | $92.1K | 14.7K | 10 |
| X | PUT | TRADE | BEARISH | 09/20/24 | $4.65 | $2.79 | $4.65 | $39.00 | $46.5K | 0 | 0 |
| X | PUT | TRADE | BEARISH | 09/20/24 | $4.1 | $3.35 | $4.1 | $38.00 | $40.9K | 3.4K | 0 |
| X | PUT | TRADE | BEARISH | 01/16/26 | $6.25 | $6.0 | $6.25 | $35.00 | $33.1K | 3.7K | 4 |
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?
- Trading volume stands at 851,836, with X's price up by 0.5%, positioned at $36.45.
- RSI indicators show the stock to be may be approaching oversold.
- Earnings announcement expected in 30 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 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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