Check Out What Whales Are Doing With STLD

Someone with a lot of money to spend has taken a bullish stance on Steel Dynamics STLD.

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

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

This isn't normal.

The overall sentiment of these big-money traders is split between 80% bullish and 20%, bearish.

Out of all of the options we uncovered, there was 1 put, for a total amount of $51,940, and 9, calls, for a total amount of $652,000..

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 $100.0 to $100.0 for Steel Dynamics over the last 3 months.

Volume & Open Interest Development

In terms of liquidity and interest, the mean open interest for Steel Dynamics options trades today is 53.33 with a total volume of 1,470.00.

In the following chart, we are able to follow the development of volume and open interest of call and put options for Steel Dynamics's big money trades within a strike price range of $100.0 to $100.0 over the last 30 days.

Steel Dynamics 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
STLD CALL TRADE BULLISH 02/17/23 $100.00 $100.0K 55 200
STLD CALL TRADE BEARISH 02/17/23 $100.00 $100.0K 55 100
STLD CALL TRADE BULLISH 05/19/23 $100.00 $70.5K 82 200
STLD CALL TRADE NEUTRAL 05/19/23 $100.00 $70.5K 82 150
STLD CALL TRADE BULLISH 05/19/23 $100.00 $70.0K 82 260

Where Is Steel Dynamics Standing Right Now?

  • With a volume of 1,079,370, the price of STLD is up 1.97% at $98.23.
  • RSI indicators hint that the underlying stock may be overbought.
  • Next earnings are expected to be released in 73 days.

What The Experts Say On Steel Dynamics:

  • BMO Capital has decided to maintain their Market Perform rating on Steel Dynamics, which currently sits at a price target of $89.
  • Goldman Sachs has decided to maintain their Buy rating on Steel Dynamics, which currently sits at a price target of $99.
  • Morgan Stanley has decided to maintain their Equal-Weight rating on Steel Dynamics, which currently sits at a price target of $85.

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

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Posted In: OptionsMarketsBZI-UOA
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