United States Steel's Options Frenzy: What You Need to Know
Investors with a lot of money to spend have taken a bullish stance on United States Steel X.
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 X, 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 8 uncommon options trades for United States Steel.
This isn’t normal.
The overall sentiment of these big-money traders is split between 62% bullish and 37%, bearish.
Out of all of the special options we uncovered, 6 are puts, for a total amount of $1,709,310, and 2 are calls, for a total amount of $79,128.
Projected Price Targets
After evaluating the trading volumes and Open Interest, it’s evident that the major market movers are focusing on a price band between $34.0 and $52.5 for United States Steel, spanning the last three months.
Insights into Volume & Open Interest
In terms of liquidity and interest, the mean open interest for United States Steel options trades today is 12469.25 with a total volume of 12,601.00.
In the following chart, we are able to follow the development of volume and open interest of call and put options for United States Steel’s big money trades within a strike price range of $34.0 to $52.5 over the last 30 days.
United States Steel Option Volume And Open Interest Over Last 30 Days
Noteworthy Options Activity:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| X | PUT | SWEEP | BEARISH | 12/20/24 | $5.35 | $5.3 | $5.35 | $40.00 | $775.2K | 19.2K | 4.0K |
| X | PUT | SWEEP | BULLISH | 12/20/24 | $6.1 | $5.2 | $5.35 | $40.00 | $429.6K | 19.2K | 815 |
| X | PUT | SWEEP | BEARISH | 12/20/24 | $5.35 | $5.3 | $5.35 | $40.00 | $268.0K | 19.2K | 2.5K |
| X | PUT | SWEEP | BEARISH | 12/20/24 | $6.4 | $4.4 | $5.3 | $40.00 | $172.7K | 19.2K | 2.0K |
| X | CALL | SWEEP | BULLISH | 12/20/24 | $1.36 | $1.0 | $1.36 | $47.00 | $54.1K | 4.8K | 407 |
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.
Current Position of United States Steel
- Trading volume stands at 792,588, with X’s price down by -6.96%, positioned at $38.1.
- RSI indicators show the stock to be is currently neutral between overbought and oversold.
- Earnings announcement expected in 58 days.
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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 United States Steel with Benzinga Pro for real-time alerts.
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