'Ongoing Upside Positioning' Activity in U.S. Steel (X) Options -Susquehanna

Investors Continue Bullish June & July Options Activity in Steel & Aluminum Names Ahead of Trump Administration Industry Review Decision -Susquehanna

Susquehanna options strategist Alison Edwards notes major bullish options activity in Steel & Aluminum stocks, related to Trump administration's national security review of the industry, with a decision expected soon according to media reports. Below is summary of options trading activity surrounding this potential catalyst.

Longbow Research Upgrades US Steel (X) to Buy

Longbow Research upgraded US Steel (NYSE: X) from Neutral to Buy.

Analyst Chris Olin establishes a $30.00 price target.

For an analyst ratings summary and ratings history on US Steel click here. For more ratings news on US Steel click here.

Shares of US Steel closed at $20.16 Friday.

U.S. Steel (X) July calls active

U.S. Steel (NYSE: X) June 22.50 and July 24 calls are active on total call volume of 51K contracts (19K puts). June call option implied volatility is at 74, July is at 59; compared to its 52-week range of 44 to 83.

Nucor (NUE) Peers on Watch Following Release of Soft Q2 Guidance (X) (AKS)

Nucor (NYSE: NUE) peers were in focus after it issued Q2 guidance below consensus views.

Related names including AK Steel (NYSE: AKS), U.S. Steel (NYSE: X) and Steel Dynamics (NASDAQ: STLD) traded lower pre-market.

U.S. Steel (X): Management Meeting Hint The Turnaround Will Take Time - Cowen

Cowen analyst, Novid Rassouli, reiterated his Market Perform rating on shares of US Steel (NYSE: X) after meeting the company's new CEO, David Burritt, who made it clear that the company is focused on achieving asset stability over the next one to two... More

U.S. Steel (X): Another Guidance Cut Coming - Axiom

Axiom Capital analyst, Gordon Johnson, reiterated his Sell rating on shares of US Steel (NYSE: X) after conducting a proprietary EBITDA guidance tracker analysis that leads the analyst to expect another ~28% cut.

The analyst thinks that even though the stock is already down... More

Citi Upgrades Commercial Metals Company (CMC) to Buy; Section 232 Favors Long Products

Citi upgraded Commercial Metals Company (NYSE: CMC) from Neutral to Buy with a price target of $22.00 (from $21.00).

Analyst Alexander Hacking said Section 232 favors long steel products and long steel mills, including CMC, GGB and STLD. Hacking notes this is anti-consensus as investors... More