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Algoma Steel ($ASTL) is mentioned in options market updates, highlighting unusual call activity. The discussion focuses on potential trading opportunities based on options flow.
Main discussion
Today's Options Market Update just posted with a look at major movers $MRNA $NBIS $ASTL as well as unusual options activity in $NVAX $RIOT & $LOW. Check it out! Not a recommendation. @SchwabNetwork @SchwabTrading https://www.schwab.com/learn/story/todays-options-market-update
RECAP 8/19 Unusual Calls: $CORZ Dec 33 C $TMUS Oct 195 C $JD Sep25 31 C $ASTL Sep 7 C $IONQ Sep 45 C $AS Dec 45 C $WULF Sep 18/23 C Spd $XLY Mar 127 C $DRAM Sep 70 C $CBRS Sep 260 C $SMH Oct 700 C $PCVX Oct 70 C $RKT Jun 18 C $UBER Sep 85 C Live Breaking trading news http://www.o
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Facts and opinions separated · All items sourced · Not investment advice
Algoma Steel is a Canadian steelmaker producing flat-rolled and plate steel for autos, construction, and heavy equipment. Think of it as a foundry feeding manufacturers the sheets and slabs they build cars, bridges, and railcars from.
Algoma is losing money: latest annual revenue was CAD 2.09B with a net loss of CAD 0.98B, and gross margin was negative at -31.87%. Steel is a cyclical commodity business, so earnings swing with prices and demand, not recurring subscriptions.
Algoma's moat is weak: steel is a commodity, and buyers can easily switch to imports or larger producers like Nucor or ArcelorMittal. Its cost position and scale don't offer durable pricing power, especially with negative margins and no unique product lock-in.
