Is Selling United States Steel Corporation Here a Winning Strategy? Option Traders Hate The Stock

 Is Selling United States Steel Corporation Here a Winning Strategy? Option Traders Hate The Stock

In today’s session United States Steel Corporation (X) recorded an unusually high (1,005) contracts volume of put trades. Someone, most probably a professional was a very active buyer of the December, 2016 put, expecting serious X decrease. With 1,005 contracts traded and 16454 open interest for the Dec, 16 contract, it seems this is a quite bearish bet. The option with symbol: X161216P00015000 closed last at: $0.75 or 4.2% up. The stock decreased 6.41% or $1.2 during the last trading session, hitting $17.52. About 16.38M shares traded hands. United States Steel Corporation (NYSE:X) has risen 54.36% since March 2, 2016 and is uptrending. It has outperformed by 45.12% the S&P500.

Analysts await United States Steel Corporation (NYSE:X) to report earnings on November, 1. They expect $0.94 earnings per share, up 234.29% or $1.64 from last year’s $-0.7 per share. X’s profit will be $154.52 million for 4.66 P/E if the $0.94 EPS becomes a reality. After $-0.31 actual earnings per share reported by United States Steel Corporation for the previous quarter, Wall Street now forecasts -403.23% EPS growth.

United States Steel Corporation (NYSE:X) Ratings Coverage

Out of 18 analysts covering United States Steel Corporation (NYSE:X), 4 rate it a “Buy”, 3 “Sell”, while 11 “Hold”. This means 22% are positive. United States Steel Corporation has been the topic of 39 analyst reports since July 30, 2015 according to StockzIntelligence Inc. On Tuesday, February 23 the stock rating was downgraded by Cowen & Co to “Market Perform”. The firm earned “Underperform” rating on Monday, March 21 by Jefferies. The firm has “Market Perform” rating given on Thursday, April 28 by Cowen & Co. The stock has “Hold” rating given by Jefferies on Wednesday, September 16. Axiom Capital initiated the stock with “Sell” rating in Friday, August 21 report. On Wednesday, March 9 the stock rating was maintained by Nomura with “Neutral”. Barclays Capital maintained the stock with “Equal-Weight” rating in Monday, October 5 report. The stock of United States Steel Corporation (NYSE:X) has “Sell” rating given on Friday, April 8 by UBS. The rating was maintained by Barclays Capital on Wednesday, July 13 with “Equalweight”. The firm earned “Hold” rating on Wednesday, July 6 by Deutsche Bank.

United States Steel Corporation is an integrated steel producer. It currently has negative earnings. The Firm is engaged in producing flat-rolled and tubular products with production activities in North America and Europe.

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