27% profits every 20 days?
This is what Nic Chahine averages with his options buys. Not selling covered calls or spreads... BUYING options. Most traders don't even have a winning percentage of 27% buying options. He has an 83% win rate. Here's how he does it.
Investors with a lot of money to spend have taken a bullish stance on Cameco (NYSE: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 14 uncommon options trades for Cameco.
This isn't normal.
The overall sentiment of these big-money traders is split between 64% bullish and 35%, bearish.
Out of all of the special options we uncovered, 3 are puts, for a total amount of $160,638, and 11 are calls, for a total amount of $994,520.
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 $33.0 and $45.0 for Cameco, spanning the last three months.
Insights into Volume & Open Interest
In today's trading context, the average open interest for options of Cameco stands at 2733.33, with a total volume reaching 6,422.00. The accompanying chart delineates the progression of both call and put option volume and open interest for high-value trades in Cameco, situated within the strike price corridor from $33.0 to $45.0, throughout the last 30 days.
Cameco Call and Put Volume: 30-Day Overview
Biggest Options Spotted:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| CCJ | CALL | TRADE | BULLISH | 03/15/24 | $35.00 | $131.0K | 244 | 675 |
| CCJ | CALL | TRADE | BULLISH | 03/15/24 | $35.00 | $131.0K | 244 | 675 |
| CCJ | CALL | TRADE | NEUTRAL | 03/15/24 | $35.00 | $130.5K | 244 | 475 |
| CCJ | CALL | SWEEP | BEARISH | 03/15/24 | $35.00 | $130.5K | 244 | 475 |
| CCJ | CALL | TRADE | BULLISH | 03/15/24 | $35.00 | $130.2K | 244 | 375 |
About Cameco
Cameco Corp is one of the world's largest uranium producers. When operating at normal production, the flagship McArthur River mine in Saskatchewan accounts for roughly 50% of output in normal market conditions. Amid years of uranium price weakness, the company has reduced production, instead purchasing from the spot market to meet contracted deliveries. In the long term, Cameco has the ability increase annual uranium production by restarting shut mines and investing in new ones. In addition to its large uranium mining business, Cameco operates uranium conversion and fabrication facilities.
Cameco's Current Market Status
- Currently trading with a volume of 1,990,162, the CCJ's price is down by -0.84%, now at $48.6.
- RSI readings suggest the stock is currently may be approaching overbought.
- Anticipated earnings release is in 3 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 Cameco, Benzinga Pro gives you real-time options trades alerts.
27% profits every 20 days?
This is what Nic Chahine averages with his options buys. Not selling covered calls or spreads... BUYING options. Most traders don't even have a winning percentage of 27% buying options. He has an 83% win rate. Here's how he does it.
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