Early channel checks with "high-level" metal service center contacts indicate an upward bias to spot market price expectations on hot rolled coil and cold rolled coil, Longbow analyst Chris Olin told investors earlier in a research note. He believes a "bull-case argument is developing" for Steel Dynamics (STLD) amid an improving near-term carbon sheet price outlook and continued strength in special-bar-quality demand. Further, low-cost steel mini-mills could become indirect beneficiaries of the Brazilian iron ore pellet shortage and global steel price inflation, Olin wrote. He sees a "potential buying opportunity" into Steel Dynamics shares with channel checks "finally showing a turn in sentiment." The analyst has a Buy rating on the shares with a $49 price target.

Unusual total active option classes on open include: Steel Dynamics (STLD), Gildan Activewear (GIL), Danaher (DHR), Altimeter Growth (GRAB), Childrens Place (PLCE), ASML (ASML), US Bancorp (USB), iShares Barclays 7 to 10 Year Treasury Bond Fund (IEF), AMC Entertainment (AMC), and Abbott (ABT).