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 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 CCJ, it often means somebody knows something is about to happen.
Today, Benzinga's options scanner spotted 20 options trades for Cameco.
This isn't normal.
The overall sentiment of these big-money traders is split between 60% bullish and 40%, bearish.
Out of all of the options we uncovered, there was 1 put, for a total amount of $25,450, and 19, calls, for a total amount of $896,105.
Expected Price Movements
Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $33.0 to $55.0 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 2739.31 with a total volume of 20,859.00.
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 $33.0 to $55.0 over the last 30 days.
Cameco Option Activity Analysis: 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| CCJ | CALL | SWEEP | BULLISH | 04/12/24 | $1.19 | $1.12 | $1.14 | $50.00 | $103.5K | 247 | 801 |
| CCJ | CALL | SWEEP | BULLISH | 06/21/24 | $5.95 | $5.8 | $5.9 | $46.00 | $95.5K | 5.7K | 211 |
| CCJ | CALL | SWEEP | BULLISH | 04/26/24 | $2.15 | $1.86 | $2.12 | $49.00 | $67.9K | 589 | 46 |
| CCJ | CALL | SWEEP | BEARISH | 01/17/25 | $8.5 | $8.3 | $8.37 | $50.00 | $67.1K | 6.8K | 1.6K |
| CCJ | CALL | SWEEP | BULLISH | 06/21/24 | $6.15 | $6.05 | $6.15 | $46.00 | $61.5K | 5.7K | 236 |
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.
Having examined the options trading patterns of Cameco, our attention now turns directly to the company. This shift allows us to delve into its present market position and performance
Current Position of Cameco
- With a volume of 3,985,960, the price of CCJ is up 0.25% at $47.8.
- RSI indicators hint that the underlying stock may be approaching overbought.
- Next earnings are expected to be released in 27 days.
What Analysts Are Saying About Cameco
In the last month, 1 experts released ratings on this stock with an average target price of $55.0.
- In a cautious move, an analyst from Goldman Sachs downgraded its rating to Buy, setting a price target of $55.
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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