Investors with a lot of money to spend have taken a bullish 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 72 uncommon options trades for United States Steel.
This isn't normal.
The overall sentiment of these big-money traders is split between 48% bullish and 33%, bearish.
Out of all of the special options we uncovered, 51 are puts, for a total amount of $4,899,943, and 21 are calls, for a total amount of $1,646,554.
Predicted Price Range
Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $25.0 to $50.0 for United States Steel over the last 3 months.
Insights into Volume & Open Interest
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 $25.0 to $50.0 over the preceding 30 days.
United States Steel Option Volume And Open Interest Over 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| X | PUT | SWEEP | BULLISH | 01/17/25 | $6.85 | $6.7 | $6.7 | $35.00 | $672.3K | 68.8K | 5.7K |
| X | PUT | SWEEP | BULLISH | 01/17/25 | $7.1 | $6.55 | $6.63 | $35.00 | $665.7K | 68.8K | 4.7K |
| X | PUT | SWEEP | BEARISH | 11/15/24 | $9.5 | $9.45 | $9.5 | $40.00 | $388.5K | 3.4K | 500 |
| X | PUT | SWEEP | BULLISH | 01/17/25 | $7.1 | $6.55 | $6.63 | $35.00 | $333.5K | 68.8K | 3.2K |
| X | CALL | TRADE | NEUTRAL | 09/20/24 | $0.57 | $0.24 | $0.4 | $40.00 | $199.9K | 12.9K | 5.4K |
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.
Current Position of United States Steel
- Currently trading with a volume of 21,909,322, the X's price is up by 4.9%, now at $31.44.
- RSI readings suggest the stock is currently is currently neutral between overbought and oversold.
- Anticipated earnings release is in 48 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 $45.0.
- An analyst from Morgan Stanley has decided to maintain their Overweight rating on United States Steel, which currently sits at a price target of $49.
- Consistent in their evaluation, an analyst from Jefferies keeps a Buy rating on United States Steel with a target price of $41.
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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