Check Out What Whales Are Doing With Suncor Energy

Check Out What Whales Are Doing With Suncor Energy

 

Someone with a lot of money to spend has taken a bullish stance on Suncor Energy SU.

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 SU, it often means somebody knows something is about to happen.

So how do we know what this whale just did?

Today, Benzinga's options scanner spotted 15 uncommon options trades for Suncor Energy.

This isn't normal.

The overall sentiment of these big-money traders is split between 60% bullish and 40%, bearish.

Out of all of the special options we uncovered, 2 are puts, for a total amount of $257,500, and 13 are calls, for a total amount of $1,276,282.

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 $22.0 to $45.0 for Suncor Energy over the last 3 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 Suncor Energy'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 Suncor Energy's whale activity within a strike price range from $22.0 to $45.0 in the last 30 days.

Suncor Energy 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
SU CALL TRADE NEUTRAL 01/20/23 $25.00 $390.0K 18.7K 1.0K
SU CALL TRADE NEUTRAL 01/20/23 $25.00 $390.0K 18.7K 503
SU PUT SWEEP BULLISH 01/20/23 $30.00 $137.5K 1.7K 25
SU PUT TRADE NEUTRAL 12/16/22 $30.00 $120.0K 2.0K 500
SU CALL SWEEP BULLISH 12/16/22 $35.00 $76.8K 1.9K 485

Where Is Suncor Energy Standing Right Now?

  • With a volume of 6,107,141, the price of SU is up 3.18% at $31.83.
  • RSI indicators hint that the underlying stock may be approaching overbought.
  • Next earnings are expected to be released in 76 days.

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

Posted In: BZI-UOAOptionsMarkets