What the Options Market Tells Us About Calumet
Investors with a lot of money to spend have taken a bearish stance on Calumet CLMT.
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 CLMT, it often means somebody knows something is about to happen.
Today, Benzinga’s options scanner spotted 14 options trades for Calumet.
This isn’t normal.
The overall sentiment of these big-money traders is split between 28% bullish and 50%, bearish.
Out of all of the options we uncovered, there was 1 put, for a total amount of $40,200, and 13, calls, for a total amount of $1,144,494.
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 $13.0 and $40.0 for Calumet, spanning the last three months.
Analyzing Volume & Open Interest
In terms of liquidity and interest, the mean open interest for Calumet options trades today is 4198.58 with a total volume of 5,404.00.
In the following chart, we are able to follow the development of volume and open interest of call and put options for Calumet’s big money trades within a strike price range of $13.0 to $40.0 over the last 30 days.
Calumet Option Volume And Open Interest Over Last 30 Days
Significant Options Trades Detected:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| CLMT | CALL | SWEEP | BULLISH | 01/17/25 | $9.5 | $9.3 | $9.5 | $15.00 | $475.0K | 1.8K | 0 |
| CLMT | CALL | SWEEP | BEARISH | 01/17/25 | $3.5 | $3.0 | $3.0 | $26.00 | $135.0K | 5 | 601 |
| CLMT | CALL | TRADE | BULLISH | 01/17/25 | $3.7 | $2.95 | $3.4 | $25.00 | $85.0K | 11.6K | 251 |
| CLMT | CALL | TRADE | BEARISH | 12/20/24 | $1.75 | $1.5 | $1.55 | $30.00 | $77.5K | 11 | 500 |
| CLMT | CALL | SWEEP | BEARISH | 11/15/24 | $3.8 | $3.6 | $3.6 | $20.00 | $72.0K | 1.2K | 214 |
About Calumet
Calumet Inc is a producer of specialty products, including base oils, specialty oils, solvents, esters, and waxes, as well as a variety of fuel and fuel-related products, including asphalt and heavy fuel oils. The company manufactures, formulates, and markets a variety of specialty branded products to customers in various consumer-facing and industrial markets.
After a thorough review of the options trading surrounding Calumet, we move to examine the company in more detail. This includes an assessment of its current market status and performance.
Where Is Calumet Standing Right Now?
- With a volume of 1,520,256, the price of CLMT is up 15.37% at $25.3.
- RSI indicators hint that the underlying stock may be overbought.
- Next earnings are expected to be released in 21 days.
What The Experts Say On Calumet
A total of 2 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $25.0.
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 HC Wainwright & Co. has revised its rating downward to Buy, adjusting the price target to $25.
* In a cautious move, an analyst from HC Wainwright & Co. downgraded its rating to Buy, setting a price target of $25.
Options trading presents higher risks and potential rewards. Astute traders manage these risks by continually educating themselves, adapting their strategies, monitoring multiple indicators, and keeping a close eye on market movements. Stay informed about the latest Calumet options trades with real-time alerts from Benzinga Pro.
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