US Steel options active on renewed takeover chatter US Steel on total put volume of 13K contracts (7K calls). April put 40, May is at 43, July is at 41; compared to its 26-week average of 43 according to Track Data. Active option volume suggests traders taking positions for large price movement following renewed takeover chatter.
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.