Market Whales and Their Recent Bets on NUE Options

Investors with a lot of money to spend have taken a bullish stance on Nucor NUE.

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 NUE, 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 10 uncommon options trades for Nucor.

This isn't normal.

The overall sentiment of these big-money traders is split between 40% bullish and 40%, bearish.

Out of all of the special options we uncovered, 4 are puts, for a total amount of $310,147, and 6 are calls, for a total amount of $468,653.

Expected Price Movements

Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $100.0 to $152.5 for Nucor over the recent three months.

Volume & Open Interest Development

In today's trading context, the average open interest for options of Nucor stands at 366.5, with a total volume reaching 981.00. The accompanying chart delineates the progression of both call and put option volume and open interest for high-value trades in Nucor, situated within the strike price corridor from $100.0 to $152.5, throughout the last 30 days.

Nucor Option Activity Analysis: Last 30 Days

Biggest Options Spotted:

About Nucor

Nucor Corp manufactures steel and steel products. The company's reportable segments are steel mills, steel products, and raw materials. A majority of its revenue is derived from the steel mills segment, which is engaged in producing sheet steel (hot-rolled, cold-rolled, and galvanized), plate steel, structural steel (wide-flange beams, beam blanks, H-piling, and sheet piling), and bar steel products. Nucor manufactures steel principally from scrap steel and scrap steel substitutes using electric arc furnaces (EAFs) along with continuous casting and automated rolling mills. The steel mills segment sells its products mainly to steel service centers, fabricators, and manufacturers located in the United States, Canada, and Mexico.

After a thorough review of the options trading surrounding Nucor, we move to examine the company in more detail. This includes an assessment of its current market status and performance.

Where Is Nucor Standing Right Now?

• With a trading volume of 1,673,247, the price of NUE is up by 2.93%, reaching $130.41.
• Current RSI values indicate that the stock is is currently neutral between overbought and oversold.
• Next earnings report is scheduled for 41 days from now.

Expert Opinions on Nucor

A total of 2 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $161.5.

Turn $1000 into $1270 in just 20 days?

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. * An analyst from Morgan Stanley has decided to maintain their Overweight rating on Nucor, which currently sits at a price target of $167. * Maintaining their stance, an analyst from JP Morgan continues to hold a Overweight rating for Nucor, targeting a price of $156.

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 Nucor with Benzinga Pro for real-time alerts.