Decoding Constellation Energy's Options Activity: What's the Big Picture?

Author: Benzinga Insights | August 08, 2024 04:19pm

Whales with a lot of money to spend have taken a noticeably bullish stance on Constellation Energy.

Looking at options history for Constellation Energy (NASDAQ:CEG) we detected 8 trades.

If we consider the specifics of each trade, it is accurate to state that 62% of the investors opened trades with bullish expectations and 25% with bearish.

From the overall spotted trades, 5 are puts, for a total amount of $367,290 and 3, calls, for a total amount of $136,970.

Expected Price Movements

Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $155.0 to $220.0 for Constellation Energy over the last 3 months.

Volume & Open Interest Trends

In today's trading context, the average open interest for options of Constellation Energy stands at 780.4, with a total volume reaching 1,312.00. The accompanying chart delineates the progression of both call and put option volume and open interest for high-value trades in Constellation Energy, situated within the strike price corridor from $155.0 to $220.0, throughout the last 30 days.

Constellation Energy Call and Put Volume: 30-Day Overview

Significant Options Trades Detected:

Symbol	PUT/CALL	Trade Type	Sentiment	Exp. Date	Ask	Bid	Price	Strike Price	Total Trade Price	Open Interest	Volume
CEG	PUT	TRADE	BULLISH	11/15/24	$9.4	$8.9	$8.9	$155.00	$120.1K	221	555
CEG	PUT	SWEEP	BEARISH	11/15/24	$8.8	$8.6	$8.8	$155.00	$107.3K	221	183
CEG	CALL	SWEEP	BULLISH	08/16/24	$3.6	$3.5	$3.6	$190.00	$72.0K	1.3K	260
CEG	PUT	SWEEP	NEUTRAL	11/15/24	$8.8	$8.7	$8.8	$155.00	$65.1K	221	181
CEG	PUT	TRADE	BULLISH	11/15/24	$9.1	$8.8	$8.8	$155.00	$49.2K	221	51

About Constellation Energy

Constellation Energy Corp offers energy solutions. It provides clean energy and sustainable solutions to homes, businesses, the public sector, community aggregations, and a range of wholesale customers (such as municipalities, cooperatives, and other strategics). The company offers comprehensive energy solutions and a variety of pricing options for electric, natural gas, and renewable energy products for companies of any size.

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

Current Position of Constellation Energy

• With a trading volume of 3,143,933, the price of CEG is up by 4.1%, reaching $187.03.
• Current RSI values indicate that the stock is is currently neutral between overbought and oversold.
• Next earnings report is scheduled for 88 days from now.

Professional Analyst Ratings for Constellation Energy

A total of 3 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $217.66666666666666.

• In a cautious move, an analyst from Barclays downgraded its rating to Overweight, setting a price target of $211.
• Maintaining their stance, an analyst from Evercore ISI Group continues to hold a Outperform rating for Constellation Energy, targeting a price of $212.
• Consistent in their evaluation, an analyst from UBS keeps a Buy rating on Constellation Energy with a target price of $230.

Options trading presents higher risks and potential rewards. Astute traders manage these risks by continually educating themselves, adapting their strategies, monitoring multiple indicators, and keeping a close eye on market movements. Stay informed about the latest Constellation Energy options trades with real-time alerts from Benzinga Pro.

Posted In: CEG