Unpacking the Latest Options Trading Trends in Cameco

Investors with a lot of money to spend have taken a bearish stance on Cameco CCJ.

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 CCJ, 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 Cameco.

This isn't normal.

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

Out of all of the special options we uncovered, 4 are puts, for a total amount of $215,416, and 6 are calls, for a total amount of $273,536.

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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 $15.0 to $50.0 for Cameco over the last 3 months.

Volume & Open Interest Trends

Examining the volume and open interest provides crucial insights into stock research. This information is key in gauging liquidity and interest levels for Cameco's options at certain strike prices. Below, we present a snapshot of the trends in volume and open interest for calls and puts across Cameco's significant trades, within a strike price range of $15.0 to $50.0, over the past month.

Cameco Option Volume And Open Interest Over Last 30 Days

Biggest Options Spotted:

About Cameco

Cameco Corp is one of the world's largest uranium producers. When operating at normal production, the flagship McArthur River mine in Saskatchewan accounts for roughly 50% of output in normal market conditions. Amid years of uranium price weakness, the company has reduced production, instead purchasing from the spot market to meet contracted deliveries. In the long term, Cameco has the ability increase annual uranium production by restarting shut mines and investing in new ones. In addition to its large uranium mining business, Cameco operates uranium conversion and fabrication facilities.

Current Position of Cameco

• Currently trading with a volume of 3,071,663, the CCJ's price is up by 0.09%, now at $44.23.
• RSI readings suggest the stock is currently may be approaching overbought.
• Anticipated earnings release is in 70 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 Cameco, Benzinga Pro gives you real-time options trades alerts.