Deep-pocketed investors have adopted a bearish approach towards Cameco CCJ, and it's something market players shouldn't ignore. Our tracking of public options records at Benzinga unveiled this significant move today. The identity of these investors remains unknown, but such a substantial move in CCJ usually suggests something big is about to happen.
We gleaned this information from our observations today when Benzinga's options scanner highlighted 18 extraordinary options activities for Cameco. This level of activity is out of the ordinary.
The general mood among these heavyweight investors is divided, with 44% leaning bullish and 55% bearish. Among these notable options, 2 are puts, totaling $120,794, and 16 are calls, amounting to $1,574,416.
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 $40.0 to $50.0 for Cameco over the last 3 months.
Volume & Open Interest Trends
In terms of liquidity and interest, the mean open interest for Cameco options trades today is 3604.5 with a total volume of 23,201.00.
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 $40.0 to $50.0 over the last 30 days.
Cameco Option Volume And Open Interest Over Last 30 Days
Largest Options Trades Observed:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| CCJ | CALL | TRADE | BULLISH | 02/09/24 | $50.00 | $485.0K | 10.3K | 5.0K |
| CCJ | CALL | SWEEP | BULLISH | 02/16/24 | $47.00 | $236.7K | 1.9K | 2.0K |
| CCJ | CALL | TRADE | BULLISH | 02/16/24 | $47.00 | $125.6K | 1.9K | 1.5K |
| CCJ | CALL | SWEEP | BEARISH | 02/16/24 | $47.00 | $119.7K | 1.9K | 1.0K |
| CCJ | CALL | SWEEP | BEARISH | 06/21/24 | $50.00 | $101.5K | 6.6K | 686 |
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.
Present Market Standing of Cameco
- With a trading volume of 2,639,060, the price of CCJ is up by 0.02%, reaching $47.0.
- Current RSI values indicate that the stock is may be approaching overbought.
- Next earnings report is scheduled for 17 days from now.
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.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Date of Trade | ticker | Put/Call | Strike Price | DTE | Sentiment |
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