This Is What Whales Are Betting On Nucor

Deep-pocketed investors have adopted a bearish approach towards Nucor NUE, and it’s something market players shouldn’t ignore. Our tracking of public options records at Benzinga unveiled this significant move today. The identity of these investors remains unknown, but such a substantial move in NUE usually suggests something big is about to happen.

We gleaned this information from our observations today when Benzinga’s options scanner highlighted 10 extraordinary options activities for Nucor. This level of activity is out of the ordinary.

The general mood among these heavyweight investors is divided, with 30% leaning bullish and 40% bearish. Among these notable options, 7 are puts, totaling $331,740, and 3 are calls, amounting to $312,945.

Predicted Price Range

After evaluating the trading volumes and Open Interest, it’s evident that the major market movers are focusing on a price band between $100.0 and $160.0 for Nucor, spanning the last three months.

Analyzing Volume & Open Interest

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 Nucor’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 Nucor’s whale activity within a strike price range from $100.0 to $160.0 in the last 30 days.

Nucor 30-Day Option Volume & Interest Snapshot

Significant Options Trades Detected:

About Nucor

Nucor Corp manufactures steel and steel products. The company’s reportable segments are steel mills, steel products, and raw materials. A majority of its revenue is derived from the steel mills segment, which is engaged in producing sheet steel (hot-rolled, cold-rolled, and galvanized), plate steel, structural steel (wide-flange beams, beam blanks, H-piling, and sheet piling), and bar steel products. Nucor manufactures steel principally from scrap steel and scrap steel substitutes using electric arc furnaces (EAFs) along with continuous casting and automated rolling mills. The steel mills segment sells its products mainly to steel service centers, fabricators, and manufacturers located in the United States, Canada, and Mexico.

After a thorough review of the options trading surrounding Nucor, we move to examine the company in more detail. This includes an assessment of its current market status and performance.

Nucor’s Current Market Status

• Trading volume stands at 538,292, with NUE’s price up by 2.18%, positioned at $111.32.
• RSI indicators show the stock to be is currently neutral between overbought and oversold.
• Earnings announcement expected in 11 days.

Expert Opinions on Nucor

A total of 3 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $156.33.

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* An analyst from Goldman Sachs has decided to maintain their Buy rating on Nucor, which currently sits at a price target of $169.
* An analyst from JP Morgan has decided to maintain their Overweight rating on Nucor, which currently sits at a price target of $140.
* Showing optimism, an analyst from UBS upgrades its rating to Buy with a revised price target of $160.

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