US Steel calls active renewed takeover chatter US Steel February 24, 25 and 26 calls are active on total call volume of 38K contracts (3K puts) following renewed takeover chatter. February call option implied volatility of 43, March and April is at 39; compared to its 26-week average of 44 according to Track Data. Active call volume suggests traders are positioning for upside price movement.
U.S. Steel downgraded to Neutral from Buy at Nomura Nomura believes U.S dollar strength and cost curve deflation driven by lower raw material prices and freight rates will continue to alter the global steel landscape. The firm expects continued export pressure by Russia and China into the global market to be highly disruptive, and when combined with further U.S. dollar strength, to pressure the U.S. steel sector. As a result, Nomura downgraded U.S. Steel (X) to Neutral and lowered its price target to $21 from $37.