Deep-pocketed investors have adopted a bullish 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 8 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 50% leaning bullish and 25% bearish. Among these notable options, 2 are puts, totaling $808,114, and 6 are calls, amounting to $541,381.
Expected Price Movements
After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $29.0 and $45.0 for United States Steel, spanning the last three months.
Volume & Open Interest Trends
Assessing the volume and open interest is a strategic step in options trading. These metrics shed light on the liquidity and investor interest in United States Steel's options at specified strike prices. The forthcoming data visualizes the fluctuation in volume and open interest for both calls and puts, linked to United States Steel's substantial trades, within a strike price spectrum from $29.0 to $45.0 over the preceding 30 days.
United States Steel Call and Put Volume: 30-Day Overview
Biggest Options Spotted:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| X | PUT | TRADE | BULLISH | 01/17/25 | $2.65 | $2.4 | $2.45 | $30.00 | $735.0K | 40.1K | 3.1K |
| X | CALL | SWEEP | NEUTRAL | 01/17/25 | $4.85 | $2.0 | $3.6 | $44.00 | $354.0K | 5.2K | 1.0K |
| X | PUT | SWEEP | BULLISH | 01/17/25 | $2.11 | $1.9 | $2.1 | $29.00 | $73.1K | 102 | 349 |
| X | CALL | SWEEP | BULLISH | 09/20/24 | $1.41 | $1.4 | $1.41 | $40.00 | $53.0K | 7.6K | 588 |
| X | CALL | SWEEP | BEARISH | 09/20/24 | $1.7 | $1.5 | $1.5 | $40.00 | $47.8K | 7.6K | 1.0K |
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.
Following our analysis of the options activities associated with United States Steel, we pivot to a closer look at the company's own performance.
Current Position of United States Steel
- Currently trading with a volume of 1,422,532, the X's price is up by 1.5%, now at $37.95.
- RSI readings suggest the stock is currently is currently neutral between overbought and oversold.
- Anticipated earnings release is in 56 days.
What Analysts Are Saying About United States Steel
1 market experts have recently issued ratings for this stock, with a consensus target price of $49.0.
- Consistent in their evaluation, an analyst from Morgan Stanley keeps a Overweight rating on United States Steel with a target price of $49.
Options are a riskier asset compared to just trading the stock, but they have higher profit potential. Serious options traders manage this risk by educating themselves daily, scaling in and out of trades, following more than one indicator, and following the markets closely.
If you want to stay updated on the latest options trades for United States Steel, Benzinga Pro gives you real-time options trades alerts.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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