Unpacking the Latest Options Trading Trends in Cameco
High-rolling investors have positioned themselves bullish on Cameco CCJ, and it’s important for retail traders to take note.
This activity came to our attention today through Benzinga’s tracking of publicly available options data. The identities of these investors are uncertain, but such a significant move in CCJ often signals that someone has privileged information.
Today, Benzinga’s options scanner spotted 9 options trades for Cameco. This is not a typical pattern.
The sentiment among these major traders is split, with 77% bullish and 22% bearish. Among all the options we identified, there was one put, amounting to $25,882, and 8 calls, totaling $543,258.
What’s The Price Target?
Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $30.0 to $46.0 for Cameco over the last 3 months.
Volume & Open Interest Development
In terms of liquidity and interest, the mean open interest for Cameco options trades today is 1647.5 with a total volume of 12,344.00.
In the following chart, we are able to follow the development of volume and open interest of call and put options for Cameco’s big money trades within a strike price range of $30.0 to $46.0 over the last 30 days.
Cameco Call and Put Volume: 30-Day Overview
Largest Options Trades Observed:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| CCJ | CALL | SWEEP | BEARISH | 10/18/24 | $5.3 | $5.1 | $5.1 | $35.00 | $108.2K | 45 | 213 |
| CCJ | CALL | TRADE | BULLISH | 09/13/24 | $0.7 | $0.58 | $0.7 | $38.00 | $105.0K | 3.4K | 1.5K |
| CCJ | CALL | TRADE | BULLISH | 01/17/25 | $7.5 | $7.4 | $7.5 | $35.00 | $101.2K | 1.3K | 186 |
| CCJ | CALL | SWEEP | BULLISH | 09/20/24 | $0.2 | $0.11 | $0.2 | $46.00 | $98.3K | 3.9K | 0 |
| CCJ | CALL | TRADE | BULLISH | 09/13/24 | $1.24 | $0.68 | $1.24 | $38.00 | $41.5K | 3.4K | 1.5K |
About Cameco
Cameco Corp is a provider of uranium needed to generate clean, reliable baseload electricity around the globe. one of those uranium producers. Cameco has three reportable segments, uranium, fuel services and Westinghouse. It derives maximum revenue from Uranium Segment. It has some projects namely; Millennium, Yeelirrie, Kintyre and Exploration. The company operates in Canada, Kazakhstan, Germany, Australia and United States.
In light of the recent options history for Cameco, it’s now appropriate to focus on the company itself. We aim to explore its current performance.
Current Position of Cameco
- With a volume of 3,719,639, the price of CCJ is up 5.44% at $39.75.
- RSI indicators hint that the underlying stock may be approaching overbought.
- Next earnings are expected to be released in 48 days.
What Analysts Are Saying About Cameco
Over the past month, 2 industry analysts have shared their insights on this stock, proposing an average target price of $71.865.
- In a cautious move, an analyst from GLJ Research downgraded its rating to Buy, setting a price target of $63.
- An analyst from Scotiabank has decided to maintain their Outperform rating on Cameco, which currently sits at a price target of $80.
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.
Market News and Data brought to you by Benzinga APIs
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Leave a Reply