Investors with a lot of money to spend have taken a bearish 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 19 uncommon options trades for United States Steel.
This isn't normal.
The overall sentiment of these big-money traders is split between 36% bullish and 57%, bearish.
Out of all of the special options we uncovered, 7 are puts, for a total amount of $267,782, and 12 are calls, for a total amount of $560,621.
Predicted Price Range
Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $35.0 to $50.0 for United States Steel over the recent 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 $50.0, over the past month.
United States Steel Option Activity Analysis: Last 30 Days
Largest Options Trades Observed:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| X | CALL | SWEEP | BEARISH | 10/18/24 | $2.2 | $1.88 | $1.88 | $39.00 | $153.5K | 2.3K | 1.0K |
| X | CALL | TRADE | BULLISH | 10/18/24 | $1.2 | $1.02 | $1.15 | $40.00 | $57.5K | 17.1K | 1.2K |
| X | PUT | TRADE | NEUTRAL | 10/18/24 | $0.65 | $0.56 | $0.6 | $35.00 | $52.4K | 23.4K | 1.0K |
| X | CALL | SWEEP | BEARISH | 10/18/24 | $1.92 | $1.9 | $1.91 | $39.00 | $46.5K | 2.3K | 1.3K |
| X | PUT | SWEEP | BEARISH | 06/20/25 | $9.9 | $9.6 | $9.9 | $45.00 | $45.5K | 52.2K | 76 |
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.
After a thorough review of the options trading surrounding United States Steel, we move to examine the company in more detail. This includes an assessment of its current market status and performance.
Present Market Standing of United States Steel
- Trading volume stands at 2,096,857, with X's price down by -0.73%, positioned at $38.33.
- RSI indicators show the stock to be may be approaching overbought.
- Earnings announcement expected in 30 days.
Professional Analyst Ratings for United States Steel
In the last month, 3 experts released ratings on this stock with an average target price of $40.52333333333333.
Unusual Options Activity Detected: Smart Money on the Move
Benzinga Edge's Unusual Options board spots potential market movers before they happen. See what positions big money is taking on your favorite stocks. Click here for access. * An analyst from Jefferies persists with their Buy rating on United States Steel, maintaining a target price of $41. * In a positive move, an analyst from JP Morgan has upgraded their rating to Overweight and adjusted the price target to $42. * An analyst from GLJ Research upgraded its action to Buy with a price target of $38.
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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