Investors with a lot of money to spend have taken a bullish stance on Calumet CLMT.
And retail traders should know.
We noticed this today when the positions 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 CLMT, it often means somebody knows something is about to happen.
Today, Benzinga's options scanner spotted 11 options trades for Calumet.
This isn't normal.
The overall sentiment of these big-money traders is split between 45% bullish and 45%, bearish.
Out of all of the options we uncovered, there was 1 put, for a total amount of $109,109, and 10, calls, for a total amount of $351,131.
Expected Price Movements
Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $16.0 to $40.0 for Calumet during the past quarter.
Insights into Volume & Open Interest
Looking at the volume and open interest is a powerful move while trading options. This data can help you track the liquidity and interest for Calumet'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 Calumet's whale trades within a strike price range from $16.0 to $40.0 in the last 30 days.
Calumet Option Activity Analysis: Last 30 Days
Biggest Options Spotted:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| CLMT | PUT | SWEEP | BULLISH | 02/21/25 | $22.8 | $20.8 | $21.38 | $40.00 | $109.1K | 0 | 51 |
| CLMT | CALL | SWEEP | BEARISH | 09/20/24 | $3.0 | $2.85 | $2.85 | $16.00 | $45.4K | 1.0K | 509 |
| CLMT | CALL | SWEEP | BEARISH | 09/20/24 | $3.2 | $3.0 | $3.0 | $16.00 | $44.4K | 1.0K | 148 |
| CLMT | CALL | TRADE | BEARISH | 01/17/25 | $3.7 | $3.6 | $3.6 | $20.00 | $36.0K | 17.0K | 466 |
| CLMT | CALL | SWEEP | BULLISH | 01/17/25 | $3.6 | $3.4 | $3.54 | $20.00 | $35.6K | 17.0K | 455 |
About Calumet
Calumet Inc is a producer of specialty products, including base oils, specialty oils, solvents, esters, and waxes, as well as a variety of fuel and fuel-related products, including asphalt and heavy fuel oils. The company manufactures, formulates, and markets a variety of specialty branded products to customers in various consumer-facing and industrial markets.
Following our analysis of the options activities associated with Calumet, we pivot to a closer look at the company's own performance.
Where Is Calumet Standing Right Now?
- With a trading volume of 380,972, the price of CLMT is down by -2.45%, reaching $18.07.
- Current RSI values indicate that the stock is may be approaching overbought.
- Next earnings report is scheduled for 70 days from now.
What The Experts Say On Calumet
Over the past month, 3 industry analysts have shared their insights on this stock, proposing an average target price of $19.333333333333332.
- An analyst from HC Wainwright & Co. downgraded its action to Buy with a price target of $25.
- Consistent in their evaluation, an analyst from TD Cowen keeps a Buy rating on Calumet with a target price of $18.
- Consistent in their evaluation, an analyst from Goldman Sachs keeps a Buy rating on Calumet with a target price of $15.
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 Calumet, 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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