Investors with a lot of money to spend have taken a bullish stance on Norfolk Southern NSC.
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 NSC, 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 11 uncommon options trades for Norfolk Southern.
This isn't normal.
The overall sentiment of these big-money traders is split between 54% bullish and 18%, bearish.
Out of all of the special options we uncovered, 3 are puts, for a total amount of $172,471, and 8 are calls, for a total amount of $475,765.
What's The Price Target?
After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $225.0 and $240.0 for Norfolk Southern, spanning the last three months.
Volume & Open Interest Development
Looking at the volume and open interest is an insightful way to conduct due diligence on a stock.
This data can help you track the liquidity and interest for Norfolk Southern's options for a given strike price.
Below, we can observe the evolution of the volume and open interest of calls and puts, respectively, for all of Norfolk Southern's whale activity within a strike price range from $225.0 to $240.0 in the last 30 days.
Norfolk Southern Option Activity Analysis: Last 30 Days
Largest Options Trades Observed:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| NSC | CALL | SWEEP | BULLISH | 08/16/24 | $6.3 | $5.8 | $6.3 | $230.00 | $137.9K | 193 | 220 |
| NSC | PUT | TRADE | NEUTRAL | 07/26/24 | $8.5 | $7.6 | $8.05 | $232.50 | $107.0K | 6 | 215 |
| NSC | CALL | SWEEP | BULLISH | 08/16/24 | $6.2 | $6.1 | $6.1 | $230.00 | $75.9K | 193 | 412 |
| NSC | CALL | SWEEP | BULLISH | 08/02/24 | $4.8 | $4.7 | $4.8 | $230.00 | $54.6K | 51 | 1.2K |
| NSC | CALL | TRADE | BULLISH | 07/26/24 | $4.3 | $3.7 | $4.1 | $227.50 | $51.2K | 111 | 129 |
About Norfolk Southern
Class-I railroad Norfolk Southern operates in the Eastern United States. On more than 20,000 miles of track, the rail hauls shipments of coal, intermodal traffic, and a diverse mix of automobile, agriculture, metal, chemical, and forest products.
Where Is Norfolk Southern Standing Right Now?
- With a volume of 1,002,078, the price of NSC is up 2.61% at $227.12.
- RSI indicators hint that the underlying stock may be approaching overbought.
- Next earnings are expected to be released in 0 days.
What Analysts Are Saying About Norfolk Southern
3 market experts have recently issued ratings for this stock, with a consensus target price of $233.0.
- An analyst from Stifel has decided to maintain their Hold rating on Norfolk Southern, which currently sits at a price target of $239.
- An analyst from Morgan Stanley has revised its rating downward to Underweight, adjusting the price target to $175.
- Consistent in their evaluation, an analyst from Bernstein keeps a Outperform rating on Norfolk Southern with a target price of $285.
Options trading presents higher risks and potential rewards. Astute traders manage these risks by continually educating themselves, adapting their strategies, monitoring multiple indicators, and keeping a close eye on market movements. Stay informed about the latest Norfolk Southern options trades with real-time alerts from Benzinga Pro.
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