Notable Put Options Activity in Red Hat

27% profit every 20 days?

This is what Nic Chahine averages with his option buys. Not selling covered calls or spreads… BUYING options. Most traders don’t even have a winning percentage of 27% buying options. He has an 83% win rate. Here’s how he does it.

Shares of Red Hat (NYSE: RHT) are higher on the session by 2.11%, currently trading at $49.93. The stock has been moving largely higher over the past two months and is currently trading above the 50-day moving average. Options traders are focusing on puts today. The strike seeing the heaviest action is the April 2012 $50.00 put, which has traded 456 times on open interest of 2 contracts. Put volume is outpacing call volume by 5 to 1. Red Hat, Inc. is engaged in providing open source software solutions to the enterprise, including its Red Hat Enterprise Linux and JBoss Enterprise Middleware.

27% profit every 20 days?

ENTER TO WIN $500 IN STOCK OR CRYPTO

Enter your email and you'll also get Benzinga's ultimate morning update AND a free $30 gift card and more!