This Is What Whales Are Betting On Cameco

Investors with a lot of money to spend have taken a bearish stance on Cameco CCJ.

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 CCJ, 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 17 uncommon options trades for Cameco.

This isn't normal.

The overall sentiment of these big-money traders is split between 29% bullish and 47%, bearish.

Out of all of the special options we uncovered, 4 are puts, for a total amount of $358,005, and 13 are calls, for a total amount of $999,957.

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What's The Price Target?

After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $20.0 and $70.0 for Cameco, spanning the last three months.

Analyzing Volume & Open Interest

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 Cameco'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 Cameco's whale activity within a strike price range from $20.0 to $70.0 in the last 30 days.

Cameco Option Activity Analysis: Last 30 Days

Significant Options Trades Detected:

About Cameco

Cameco Corp is a provider of uranium needed to generate clean, reliable baseload electricity around the globe. one of those uranium producers. It has three reportable segments, Uranium, Fuel Services, and Westinghouse. It derives maximum revenue from the Westinghouse Segment. It has some projects namely; Millennium, Yeelirrie, Kintyre, and Exploration. The company operates in Canada, Kazakhstan, Germany, Australia, and the United States.

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

Cameco's Current Market Status

• Trading volume stands at 4,907,332, with CCJ's price down by -2.33%, positioned at $59.0.
• RSI indicators show the stock to be may be overbought.
• Earnings announcement expected in 62 days.

Professional Analyst Ratings for Cameco

Over the past month, 1 industry analysts have shared their insights on this stock, proposing an average target price of $65.0.

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 Goldman Sachs has revised its rating downward to Buy, adjusting the price target to $65.

Options are a riskier asset compared to just trading the stock, but they have higher profit potential. Serious options traders manage this risk by educating themselves daily, scaling in and out of trades, following more than one indicator, and following the markets closely.

If you want to stay updated on the latest options trades for Cameco, Benzinga Pro gives you real-time options trades alerts.