Investors with a lot of money to spend have taken a bearish stance on Nucor NUE.
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 NUE, it often means somebody knows something is about to happen.
Today, Benzinga's options scanner spotted 8 options trades for Nucor.
This isn't normal.
The overall sentiment of these big-money traders is split between 25% bullish and 75%, bearish.
Out of all of the options we uncovered, there was 1 put, for a total amount of $61,740, and 7, calls, for a total amount of $2,353,217.
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 $170.0 to $210.0 for Nucor over the last 3 months.
Analyzing Volume & Open Interest
In terms of liquidity and interest, the mean open interest for Nucor options trades today is 630.2 with a total volume of 4,308.00.
In the following chart, we are able to follow the development of volume and open interest of call and put options for Nucor's big money trades within a strike price range of $170.0 to $210.0 over the last 30 days.
Nucor Option Volume And Open Interest Over Last 30 Days
Noteworthy Options Activity:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| NUE | CALL | TRADE | BEARISH | 01/17/25 | $210.00 | $1.3M | 554 | 2.0K |
| NUE | CALL | TRADE | NEUTRAL | 01/17/25 | $210.00 | $707.6K | 554 | 811 |
| NUE | CALL | SWEEP | BEARISH | 01/17/25 | $210.00 | $116.5K | 554 | 100 |
| NUE | PUT | TRADE | BULLISH | 01/16/26 | $195.00 | $61.7K | 502 | 63 |
| NUE | CALL | SWEEP | NEUTRAL | 06/21/24 | $210.00 | $56.9K | 1.7K | 294 |
About Nucor
Nucor Corp manufactures steel and steel products. The company also produces direct reduced iron for use in its steel mills. The operations include international trading and sales companies that buy and sell steel and steel products manufactured by the company and others. The operating business segments are: steel mills, steel products, and raw materials, the steel mills segment derives maximum revenue. The steel mills segment includes carbon and alloy steel in sheet, bars, structural and plate; steel trading businesses; rebar distribution businesses; and Nucor's equity method investments in NuMit and NJSM.
In light of the recent options history for Nucor, it's now appropriate to focus on the company itself. We aim to explore its current performance.
Nucor's Current Market Status
- With a trading volume of 1,218,829, the price of NUE is up by 0.88%, reaching $184.5.
- Current RSI values indicate that the stock is may be approaching overbought.
- Next earnings report is scheduled for 36 days from now.
Professional Analyst Ratings for Nucor
1 market experts have recently issued ratings for this stock, with a consensus target price of $240.0.
- Showing optimism, an analyst from Citigroup upgrades its rating to Buy with a revised price target of $240.
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 Nucor with Benzinga Pro for real-time 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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