Benzinga's options scanner has just identified more than 11 option transactions on Nucor NUE, with a cumulative value of $455,591. Concurrently, our algorithms picked up 5 puts, worth a total of 181,901.
Projected Price Targets
After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $105.0 and $160.0 for Nucor, spanning the last three months.
Volume & Open Interest Trends
Examining the volume and open interest provides crucial insights into stock research. This information is key in gauging liquidity and interest levels for Nucor's options at certain strike prices. Below, we present a snapshot of the trends in volume and open interest for calls and puts across Nucor's significant trades, within a strike price range of $105.0 to $160.0, over the past month.
Nucor Option Volume And Open Interest Over 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| NUE | CALL | SWEEP | BULLISH | 01/17/25 | $3.1 | $2.8 | $3.06 | $160.00 | $208.7K | 3.5K | 1.0K |
| NUE | PUT | SWEEP | BEARISH | 09/20/24 | $7.0 | $6.9 | $7.0 | $145.00 | $53.9K | 816 | 77 |
| NUE | PUT | SWEEP | BULLISH | 10/18/24 | $12.2 | $12.0 | $12.04 | $145.00 | $36.0K | 175 | 35 |
| NUE | CALL | TRADE | BULLISH | 09/13/24 | $1.0 | $0.9 | $1.0 | $136.00 | $35.0K | 0 | 357 |
| NUE | PUT | SWEEP | BULLISH | 09/20/24 | $11.5 | $11.1 | $11.1 | $145.00 | $33.3K | 816 | 168 |
About Nucor
Nucor Corp manufactures steel and steel products. The company also produces direct reduced iron for use in its steel mills. The operations include international trading and sales companies that buy and sell steel and steel products manufactured by the company and others. The operating business segments are: steel mills, steel products, and raw materials, the steel mills segment derives maximum revenue. The steel mills segment includes carbon and alloy steel in sheet, bars, structural and plate; steel trading businesses; rebar distribution businesses; and Nucor's equity method investments in NuMit and NJSM.
Following our analysis of the options activities associated with Nucor, we pivot to a closer look at the company's own performance.
Nucor's Current Market Status
- Trading volume stands at 956,019, with NUE's price down by -2.98%, positioned at $135.44.
- RSI indicators show the stock to be is currently neutral between overbought and oversold.
- Earnings announcement expected in 40 days.
What Analysts Are Saying About Nucor
2 market experts have recently issued ratings for this stock, with a consensus target price of $175.0.
- Showing optimism, an analyst from JP Morgan upgrades its rating to Overweight with a revised price target of $174.
- In a positive move, an analyst from Morgan Stanley has upgraded their rating to Overweight and adjusted the price target to $176.
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 Nucor options trades with real-time alerts from Benzinga Pro.
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