| Short-term calls target U.S. Steel | |
| | |
|
U.S. Steel is attracting bullish option activity ahead of its earnings report next week.
More than 3,000 Weekly 26 calls that expire at the end of Friday's session traded for $0.27 to $0.48 in a strong buying pattern yesterday. Traders also purchased about 2,000 Weekly 27 calls expiring on May 1 for $0.47 to $0.61. Volume was above the previous open interest in both strikes, indicating that new positions were established.
Long calls lock in the price where investors can buy a stock, which lets them position for a rally with limited capital. That can be safer than purchasing shares directly because only the cost of the options can be lost on a pullback. The calls can be sold anytime before they expire but will lose value if the stock falls. (See our Education section)
Several steel makers have been trending higher recently, as reflected in the SPDR Metals and Mining Fund . That ETF, whose holdings are nearly 50 percent steel names, saw bullish call buying last week.
X rose 0.51 percent to $25.55 yesterday. The steel maker hit $27.68 last Wednesday, its highest price of the year so far, while closing above its 100-day moving average for the first time since last November. The company is scheduled to issue quarterly results a week from today, April 28.
Overall option volume in the name yesterday was nearly double its daily average for the last month. Total calls outpaced puts by more than 2.5 to 1.
More From optionMONSTER
|
|
|
United States Steel Corporation
|
|
|
CODE : X |
ISIN : US9129091081 |
|
| |
ProfilIndicateurs de MarchéVALEUR : Projets & res.Communiqués de PresseRapport annuelRISQUE : Profile actifsContactez la cie |
United States Steel est une société de production minière de fer et de étain basée aux Etats-Unis D'Amerique. United States Steel est cotée aux Etats-Unis D'Amerique. Sa capitalisation boursière aujourd'hui est 6,4 milliards US$ (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. |