The Enigmatic Options Activity of Constellation Energy
Investors with ample capital have taken a bullish stance on Constellation Energy (NASDAQ: CEG).
As these positions came to light in the publicly available options history, it beckons retail traders to take heed.
When such a significant shift in CEG occurs, it usually signals an impending event known to a select few.
Today, Benzinga’s options scanner uncovered 9 noteworthy options trades for Constellation Energy, a deviation from the norm.
The sentiment among these deep-pocketed traders is divided, with 55% bullish and 44% bearish inclinations detected.
Among the unveiled options, there was 1 put worth $27,000, and 8 calls worth $421,165.
Deciphering Expected Price Movements
Considering the Volume and Open Interest on these contracts, it seems whales have set their sights on a price range of $180.0 to $270.0 for Constellation Energy over the past 3 months.
Analyzing Volume & Open Interest Trends
The average open interest for Constellation Energy options trades today stands at 231.67, accompanied by a total volume of 566.00.
Tracking the trajectory of volume and open interest of call and put options for Constellation Energy within a strike price range of $180.0 to $270.0 over the last 30 days has revealed interesting patterns.
Unveiling Significance in Options Trading
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| CEG | CALL | SWEEP | BULLISH | 01/17/25 | $7.0 | $6.0 | $7.0 | $270.00 | $119.0K | 16 | 170 |
| CEG | CALL | SWEEP | BULLISH | 07/19/24 | $2.9 | $2.85 | $2.9 | $240.00 | $65.2K | 307 | 4 |
| CEG | CALL | TRADE | NEUTRAL | 05/17/24 | $10.4 | $9.9 | $10.17 | $195.00 | $50.8K | 136 | 90 |
| CEG | CALL | SWEEP | BULLISH | 07/19/24 | $6.0 | $5.8 | $5.9 | $220.00 | $47.7K | 147 | 81 |
| CEG | CALL | TRADE | BEARISH | 04/19/24 | $11.5 | $10.0 | $10.2 | $180.00 | $38.7K | 356 | 2 |
Understanding Constellation Energy
Constellation Energy Corp offers energy solutions, providing clean energy and sustainable options for households, businesses, the public sector, and a range of wholesale customers.
They cater to various entities, offering comprehensive energy solutions and pricing options for electric, natural gas, and renewable energy products across all business sizes.
Evaluating Constellation Energy’s Current Market Standing
- With a trading volume of 3,130,440, CEG’s price has dipped by -0.33%, settling at $182.5.
- RSI indicators suggest the stock is in a neutral zone, balancing between overbought and oversold territories.
- An earnings announcement is anticipated in 27 days.
Insights from Analysts on Constellation Energy
Four professional analysts have recently weighed in on the stock, revealing an average price target of $192.25.
- A Morgan Stanley analyst upholds their Overweight rating on Constellation Energy, with a price target of $193.
- Similarly, a Wells Fargo analyst maintains an Overweight rating on Constellation Energy, setting a target price of $185.
- Consistency prevails as a Morgan Stanley analyst retains an Overweight rating on Constellation Energy, with a target price of $193.
- Additionally, an analyst from Evercore ISI Group sticks with an Outperform rating on Constellation Energy, eyeing a target price of $198.
Engaging in options trading carries inherent risks and rewards. Savvy traders navigate these waters by staying informed, adapting strategies, monitoring indicators, and being vigilant of market shifts.