Deep-pocketed investors have adopted a bearish approach towards United States Steel X, and it's something market players shouldn't ignore. Our tracking of public options records at Benzinga unveiled this significant move today. The identity of these investors remains unknown, but such a substantial move in X usually suggests something big is about to happen.
We gleaned this information from our observations today when Benzinga's options scanner highlighted 11 extraordinary options activities for United States Steel. This level of activity is out of the ordinary.
The general mood among these heavyweight investors is divided, with 36% leaning bullish and 54% bearish. Among these notable options, 4 are puts, totaling $129,662, and 7 are calls, amounting to $250,763.
What's The Price Target?
Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $30.0 to $45.0 for United States Steel during the past quarter.
Volume & Open Interest Development
In today's trading context, the average open interest for options of United States Steel stands at 17805.12, with a total volume reaching 3,642.00. The accompanying chart delineates the progression of both call and put option volume and open interest for high-value trades in United States Steel, situated within the strike price corridor from $30.0 to $45.0, throughout the last 30 days.
United States Steel Option Volume And Open Interest Over 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 | BULLISH | 06/21/24 | $2.3 | $1.88 | $2.25 | $37.00 | $56.2K | 2.3K | 574 |
| X | CALL | TRADE | BULLISH | 05/10/24 | $0.87 | $0.75 | $0.87 | $37.00 | $43.5K | 2.7K | 22 |
| X | CALL | TRADE | NEUTRAL | 05/17/24 | $1.36 | $0.61 | $1.03 | $37.00 | $36.5K | 4.8K | 1.2K |
| X | PUT | SWEEP | BEARISH | 10/18/24 | $1.46 | $1.3 | $1.3 | $30.00 | $35.7K | 2.5K | 259 |
| X | PUT | SWEEP | BEARISH | 01/17/25 | $9.05 | $8.5 | $8.98 | $45.00 | $35.2K | 121.6K | 0 |
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
United States Steel's Current Market Status
- Currently trading with a volume of 2,386,325, the X's price is up by 3.45%, now at $37.73.
- RSI readings suggest the stock is currently may be approaching oversold.
- Anticipated earnings release is in 80 days.
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 United States Steel, Benzinga Pro gives you real-time options trades alerts.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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