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 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 CLMT, 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 11 uncommon options trades for Calumet.
This isn't normal.
The overall sentiment of these big-money traders is split between 72% bullish and 27%, bearish.
Out of all of the special options we uncovered, 2 are puts, for a total amount of $202,100, and 9 are calls, for a total amount of $617,462.
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 $15.0 to $21.0 for Calumet during the past quarter.
Insights into Volume & Open Interest
In today's trading context, the average open interest for options of Calumet stands at 6127.5, with a total volume reaching 16,579.00. The accompanying chart delineates the progression of both call and put option volume and open interest for high-value trades in Calumet, situated within the strike price corridor from $15.0 to $21.0, throughout the last 30 days.
Calumet 30-Day Option Volume & Interest Snapshot
Significant Options Trades Detected:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| CLMT | CALL | TRADE | BULLISH | 11/15/24 | $1.9 | $1.7 | $1.85 | $21.00 | $277.5K | 4.5K | 4.1K |
| CLMT | PUT | TRADE | BULLISH | 05/16/25 | $2.15 | $2.0 | $2.05 | $18.00 | $102.5K | 2 | 501 |
| CLMT | PUT | SWEEP | BULLISH | 05/16/25 | $2.15 | $2.0 | $2.0 | $18.00 | $99.6K | 2 | 1.0K |
| CLMT | CALL | TRADE | BEARISH | 01/17/25 | $7.9 | $7.5 | $7.6 | $15.00 | $76.0K | 1.7K | 100 |
| CLMT | CALL | SWEEP | BULLISH | 11/15/24 | $1.9 | $1.65 | $1.87 | $21.00 | $66.2K | 4.5K | 2.4K |
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.
Current Position of Calumet
- With a trading volume of 453,613, the price of CLMT is up by 1.91%, reaching $22.66.
- Current RSI values indicate that the stock is may be approaching overbought.
- Next earnings report is scheduled for 102 days from now.
What Analysts Are Saying About Calumet
In the last month, 5 experts released ratings on this stock with an average target price of $26.4.
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. * Consistent in their evaluation, an analyst from TD Cowen keeps a Buy rating on Calumet with a target price of $26. * An analyst from HC Wainwright & Co. has revised its rating downward to Buy, adjusting the price target to $25. * An analyst from Wells Fargo persists with their Overweight rating on Calumet, maintaining a target price of $29. * An analyst from TD Cowen has decided to maintain their Buy rating on Calumet, which currently sits at a price target of $27. * Reflecting concerns, an analyst from HC Wainwright & Co. lowers its rating to Buy with a new price target of $25.
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 Calumet with Benzinga Pro for real-time alerts.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
