Looking At CSX's Recent Whale Trades

Looking At CSX's Recent Whale Trades

Someone with a lot of money to spend has taken a bearish stance on CSX CSX.

And retail traders should know.

We noticed this today when the big position showed up on publicly available options history that we track here at Benzinga.

Whether this is an institution or just a wealthy individual, we don't know. But when something this big happens with CSX, it often means somebody knows something is about to happen.

Today, Benzinga's options scanner spotted 10 options trades for CSX.

This isn't normal.

The overall sentiment of these big-money traders is split between 10% bullish and 90%, bearish.

Out of all of the options we uncovered, 9 are puts, for a total amount of $1,256,071, and there was 1 call, for a total amount of $31,140.

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 $27.0 to $30.0 for CSX over the last 3 months.

Volume & Open Interest Development

In terms of liquidity and interest, the mean open interest for CSX options trades today is 5048.0 with a total volume of 43,908.00.

In the following chart, we are able to follow the development of volume and open interest of call and put options for CSX's big money trades within a strike price range of $27.0 to $30.0 over the last 30 days.

CSX Option Volume And Open Interest Over Last 30 Days

Biggest Options Spotted:

Symbol PUT/CALL Trade Type Sentiment Exp. Date Strike Price Total Trade Price Open Interest Volume
CSX PUT SWEEP BEARISH 08/19/22 $30.00 $239.2K 10.0K 5.6K
CSX PUT SWEEP BEARISH 08/19/22 $30.00 $184.6K 10.0K 8.5K
CSX PUT SWEEP BEARISH 08/19/22 $30.00 $167.7K 10.0K 0
CSX PUT SWEEP BEARISH 08/19/22 $30.00 $161.2K 10.0K 10.0K
CSX PUT SWEEP BEARISH 08/19/22 $30.00 $161.2K 10.0K 9.3K

Symbol PUT/CALL Trade Type Sentiment Exp. Date Strike Price Total Trade Price Open Interest Volume
CSX PUT SWEEP BEARISH 08/19/22 $30.00 $239.2K 10.0K 5.6K
CSX PUT SWEEP BEARISH 08/19/22 $30.00 $184.6K 10.0K 8.5K
CSX PUT SWEEP BEARISH 08/19/22 $30.00 $167.7K 10.0K 0
CSX PUT SWEEP BEARISH 08/19/22 $30.00 $161.2K 10.0K 10.0K
CSX PUT SWEEP BEARISH 08/19/22 $30.00 $161.2K 10.0K 9.3K

Where Is CSX Standing Right Now?

  • With a volume of 2,087,088, the price of CSX is down -1.42% at $28.44.
  • RSI indicators hint that the underlying stock may be approaching oversold.
  • Next earnings are expected to be released in 8 days.

What The Experts Say On CSX:

  • Credit Suisse downgraded its action to Outperform with a price target of $35
  • Raymond James has decided to maintain their Outperform rating on CSX, which currently sits at a price target of $35.
  • Susquehanna has decided to maintain their Positive rating on CSX, which currently sits at a price target of $36.

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 CSX, Benzinga Pro gives you real-time options trades alerts.

Posted In: BZI-UOAOptionsMarkets