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Cameco's Options: A Look at What the Big Money is Thinking

Author: Benzinga Insights | July 10, 2024 11:36am

Investors with a lot of money to spend have taken a bullish stance on Cameco (NYSE:CCJ).

And retail traders should know.

We noticed this today when the positions 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.

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

This isn't normal.

The overall sentiment of these big-money traders is split between 60% bullish and 10%, bearish.

Out of all of the options we uncovered, there was 1 put, for a total amount of $25,000, and 9, calls, for a total amount of $368,020.

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 $45.0 and $75.0 for Cameco, spanning the last three months.

Insights into Volume & Open Interest

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 $45.0 to $75.0, over the past month.

Cameco Option Activity Analysis: Last 30 Days

Options Call Chart

Largest Options Trades Observed:

Symbol PUT/CALL Trade Type Sentiment Exp. Date Ask Bid Price Strike Price Total Trade Price Open Interest Volume
CCJ CALL SWEEP BULLISH 06/20/25 $3.3 $3.25 $3.25 $75.00 $92.3K 33 94
CCJ CALL SWEEP NEUTRAL 07/12/24 $1.15 $1.03 $1.1 $52.00 $55.6K 1.2K 2.1K
CCJ CALL TRADE NEUTRAL 07/12/24 $0.86 $0.8 $0.83 $52.00 $38.1K 1.2K 976
CCJ CALL TRADE BULLISH 07/12/24 $1.14 $1.07 $1.14 $51.00 $34.7K 2.4K 1.3K
CCJ CALL SWEEP BULLISH 07/12/24 $0.28 $0.27 $0.28 $51.00 $33.9K 2.4K 0

About Cameco

Cameco Corp is a provider of uranium needed to generate clean, reliable baseload electricity around the globe. one of those uranium producers. Cameco has three reportable segments, uranium, fuel services and Westinghouse. It derives maximum revenue from Uranium Segment. It has some projects namely; Millennium, Yeelirrie, Kintyre and Exploration. The company operates in Canada, Kazakhstan, Germany, Australia and United States.

Having examined the options trading patterns of Cameco, our attention now turns directly to the company. This shift allows us to delve into its present market position and performance

Cameco's Current Market Status

  • Trading volume stands at 2,658,486, with CCJ's price up by 2.74%, positioned at $50.33.
  • RSI indicators show the stock to be may be approaching overbought.
  • Earnings announcement expected in 21 days.

What The Experts Say On Cameco

Over the past month, 1 industry analysts have shared their insights on this stock, proposing an average target price of $60.5.

  • Maintaining their stance, an analyst from B of A Securities continues to hold a Buy rating for Cameco, targeting a price of $60.

Trading options involves greater risks but also offers the potential for higher profits. Savvy traders mitigate these risks through ongoing education, strategic trade adjustments, utilizing various indicators, and staying attuned to market dynamics. Keep up with the latest options trades for Cameco with Benzinga Pro for real-time alerts.

Posted In: CCJ

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