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U.S. Steel has seen its share price cut in half this year, but traders are betting on a sharp rebound by the end of the year.
optionMONSTER's Heat Seeker system detected the purchase of 5,000 December 16 calls in one print for $0.35 yesterday. This is clearly a new position, as open interest in the strike was a mere 56 contracts before the trade occurred.
These long calls lock in the price where the stock can be purchased through mid-December no matter how far it might climb. They could be sold earlier at a profit if premiums rise with a rally before then, providing potentially significant leverage, but the contracts will expire worthless if shares remain below $16. (See our Education section)
X rose 2.61 percent to $12.18 yesterday but is still down some 55 percent since the start of 2015. The steel maker fell to $9.66 on Oct. 2--the first time it has traded in single digits since April 2003--but has bounced with other commodity-related stocks since then as the dollar has weakened.
The company is scheduled to announce quarterly results on Nov. 3. Yesterday's total option volume in the name was below its daily average for the last month, but overall calls outpaced puts by more than 2 to 1.
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United States Steel Corporation
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CODE : X |
ISIN : US9129091081 |
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ProfilIndicateurs de MarchéVALEUR : Projets & res.Communiqués de PresseRapport annuelRISQUE : Profile actifsContactez la cie |
United States Steel est une société de production minière de fer et de étain basée aux Etats-Unis D'Amerique. United States Steel est cotée aux Etats-Unis D'Amerique. Sa capitalisation boursière aujourd'hui est 6,4 milliards US$ (5,7 milliards €). La valeur de son action a atteint son plus bas niveau récent le 28 mars 2003 à 10,01 US$, et son plus haut niveau récent le 30 novembre 2007 à 98,85 US$. United States Steel possède 176 184 431 actions en circulation. |