Investors with a lot of money to spend have taken a bullish stance on Teck Resources TECK.
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 TECK, 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 10 uncommon options trades for Teck Resources.
This isn't normal.
The overall sentiment of these big-money traders is split between 50% bullish and 30%, bearish.
Out of all of the special options we uncovered, 2 are puts, for a total amount of $146,398, and 8 are calls, for a total amount of $650,742.
What's The Price Target?
Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $50.0 to $55.0 for Teck Resources during the past quarter.
Analyzing Volume & Open Interest
In today's trading context, the average open interest for options of Teck Resources stands at 5750.0, with a total volume reaching 11,819.00. The accompanying chart delineates the progression of both call and put option volume and open interest for high-value trades in Teck Resources, situated within the strike price corridor from $50.0 to $55.0, throughout the last 30 days.
Teck Resources 30-Day Option Volume & Interest Snapshot
Noteworthy Options Activity:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| TECK | CALL | TRADE | BULLISH | 08/16/24 | $2.27 | $1.92 | $2.22 | $55.00 | $285.0K | 4.9K | 3.2K |
| TECK | CALL | SWEEP | BULLISH | 08/16/24 | $2.26 | $2.1 | $2.18 | $55.00 | $125.7K | 4.9K | 1.9K |
| TECK | PUT | SWEEP | BEARISH | 06/21/24 | $1.38 | $1.38 | $1.38 | $50.00 | $75.8K | 624 | 1.0K |
| TECK | PUT | SWEEP | BEARISH | 06/21/24 | $1.41 | $1.29 | $1.41 | $50.00 | $70.5K | 624 | 514 |
| TECK | CALL | SWEEP | NEUTRAL | 07/19/24 | $1.22 | $1.05 | $1.1 | $55.00 | $55.5K | 11.6K | 610 |
About Teck Resources
Teck is a diversified miner with coal, copper, and zinc operations in Canada, the United States, Chile, and Peru. Metallurgical coal is Teck's primary commodity in terms of EBITDA contribution, followed by copper and zinc. Teck is the world's second-largest exporter of seaborne metallurgical coal and is a top-three zinc miner. Its major new copper mine in Chile at the majority-owned Quebrada Blanca 2, in partnership with Sumitomo, will drive an increase in Teck's attributable copper production by roughly 75%. Along with a number of additional copper growth options, Teck's strategy is to rebalance its portfolio to low-carbon metals such as copper. It sold its oil sands business in early 2023 and has agreed to sell its coal business. The deal is likely to close in the third quarter of 2024.
In light of the recent options history for Teck Resources, it's now appropriate to focus on the company itself. We aim to explore its current performance.
Teck Resources's Current Market Status
- Trading volume stands at 3,072,211, with TECK's price down by -3.99%, positioned at $51.27.
- RSI indicators show the stock to be may be approaching overbought.
- Earnings announcement expected in 64 days.
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 Teck Resources with Benzinga Pro for real-time alerts.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Date of Trade | ticker | Put/Call | Strike Price | DTE | Sentiment |
|---|
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
