Looking At Constellation Energy's Recent Unusual Options Activity

Author: Benzinga Insights | April 19, 2024 11:46am

Investors with a lot of money to spend have taken a bearish stance on Constellation Energy (NASDAQ:CEG).

And retail traders should know.

We noticed this today when the trades showed up on publicly available options history that we track here at Benzinga.

Whether this is an institution or just a wealthy individual, we don't know. But when something this big happens with CEG, it often means somebody knows something is about to happen.

Today, Benzinga's options scanner spotted 8 options trades for Constellation Energy.

This isn't normal.

The overall sentiment of these big-money traders is split between 12% bullish and 87%, bearish.

Out of all of the options we uncovered, 7 are puts, for a total amount of $1,189,564, and there was 1 call, for a total amount of $25,800.

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 $140.0 to $220.0 for Constellation Energy over the last 3 months.

Analyzing Volume & Open Interest

In terms of liquidity and interest, the mean open interest for Constellation Energy options trades today is 867.75 with a total volume of 2,755.00.

In the following chart, we are able to follow the development of volume and open interest of call and put options for Constellation Energy's big money trades within a strike price range of $140.0 to $220.0 over 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	SWEEP	BEARISH	05/17/24	$9.7	$8.6	$9.2	$180.00	$348.6K	3.1K	390
CEG	PUT	SWEEP	BULLISH	06/21/24	$10.3	$10.2	$10.2	$180.00	$289.6K	1	285
CEG	PUT	SWEEP	BEARISH	06/21/24	$11.1	$11.0	$11.0	$180.00	$179.2K	1	318
CEG	PUT	SWEEP	BEARISH	05/17/24	$9.9	$9.4	$9.88	$180.00	$167.3K	3.1K	715
CEG	PUT	SWEEP	BEARISH	05/17/24	$9.3	$8.9	$9.3	$180.00	$135.7K	3.1K	536

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.

Following our analysis of the options activities associated with Constellation Energy, we pivot to a closer look at the company's own performance.

Constellation Energy's Current Market Status

• With a trading volume of 933,876, the price of CEG is down by -0.42%, reaching $183.09.
• Current RSI values indicate that the stock is may be approaching overbought.
• Next earnings report is scheduled for 20 days from now.

What Analysts Are Saying About Constellation Energy

3 market experts have recently issued ratings for this stock, with a consensus target price of $194.66666666666666.

• An analyst from Morgan Stanley persists with their Overweight rating on Constellation Energy, maintaining a target price of $193.
• An analyst from Evercore ISI Group has decided to maintain their Outperform rating on Constellation Energy, which currently sits at a price target of $198.
• Maintaining their stance, an analyst from Morgan Stanley continues to hold a Overweight rating for Constellation Energy, targeting a price of $193.

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

Posted In: CEG