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 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 X, it often means somebody knows something is about to happen.
Today, Benzinga's options scanner spotted 9 options trades for United States Steel.
This isn't normal.
The overall sentiment of these big-money traders is split between 22% bullish and 66%, bearish.
Out of all of the options we uncovered, there was 1 put, for a total amount of $95,506, and 8, calls, for a total amount of $939,250.
Projected Price Targets
Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $39.0 to $50.0 for United States Steel over the last 3 months.
Volume & Open Interest Development
Looking at the volume and open interest is an insightful way to conduct due diligence on a stock.
This data can help you track the liquidity and interest for United States Steel'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 United States Steel's whale activity within a strike price range from $39.0 to $50.0 in the last 30 days.
United States Steel Option Volume And Open Interest Over Last 30 Days
Noteworthy Options Activity:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| X | CALL | SWEEP | NEUTRAL | 12/27/24 | $4.35 | $1.73 | $2.8 | $45.00 | $539.6K | 2 | 2.0K |
| X | PUT | SWEEP | BEARISH | 12/06/24 | $3.6 | $3.55 | $3.6 | $39.00 | $95.5K | 1 | 554 |
| X | CALL | SWEEP | BEARISH | 01/17/25 | $4.2 | $4.0 | $4.0 | $43.00 | $91.6K | 13.4K | 1.0K |
| X | CALL | SWEEP | BEARISH | 01/17/25 | $4.2 | $3.8 | $4.0 | $43.00 | $68.4K | 13.4K | 1.0K |
| X | CALL | SWEEP | BULLISH | 01/17/25 | $4.05 | $3.75 | $4.0 | $43.00 | $66.4K | 13.4K | 1.0K |
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.
Having examined the options trading patterns of United States Steel, our attention now turns directly to the company. This shift allows us to delve into its present market position and performance
Present Market Standing of United States Steel
- With a trading volume of 1,092,583, the price of X is down by -0.13%, reaching $37.96.
- Current RSI values indicate that the stock is is currently neutral between overbought and oversold.
- Next earnings report is scheduled for 72 days from now.
What Analysts Are Saying About United States Steel
1 market experts have recently issued ratings for this stock, with a consensus target price of $43.0.
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20-year pro options trader reveals his one-line chart technique that shows when to buy and sell. Copy his trades, which have had averaged a 27% profit every 20 days. Click here for access. * Consistent in their evaluation, an analyst from BMO Capital keeps a Outperform rating on United States Steel with a target price of $43.
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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