27% profits every 20 days?
This is what Nic Chahine averages with his options 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.
A whale with a lot of money to spend has taken a noticeably bearish stance on Snap.
Looking at options history for Snap (NYSE:SNAP) we detected 14 strange trades.
If we consider the specifics of each trade, it is accurate to state that 35% of the investors opened trades with bullish expectations and 64% with bearish.
From the overall spotted trades, 8 are puts, for a total amount of $395,446 and 6, calls, for a total amount of $619,150.
What's The Price Target?
Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $15.0 to $75.0 for Snap over the last 3 months.
Volume & Open Interest Development
In terms of liquidity and interest, the mean open interest for Snap options trades today is 3371.18 with a total volume of 4,970.00.
In the following chart, we are able to follow the development of volume and open interest of call and put options for Snap's big money trades within a strike price range of $15.0 to $75.0 over the last 30 days.
Snap Option Volume And Open Interest Over Last 30 Days
Biggest Options Spotted:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| SNAP | CALL | TRADE | NEUTRAL | 01/19/24 | $40.00 | $210.0K | 4.2K | 209 |
| SNAP | CALL | SWEEP | BULLISH | 03/18/22 | $40.00 | $151.8K | 13.9K | 2.1K |
| SNAP | CALL | SWEEP | BULLISH | 03/18/22 | $40.00 | $96.6K | 13.9K | 910 |
| SNAP | PUT | SWEEP | BEARISH | 05/20/22 | $38.00 | $86.9K | 604 | 250 |
| SNAP | PUT | SWEEP | BEARISH | 03/18/22 | $40.00 | $85.0K | 7.1K | 205 |
Where Is Snap Standing Right Now?
- With a volume of 5,896,401, the price of SNAP is down -1.65% at $36.26.
- RSI indicators hint that the underlying stock may be approaching overbought.
- Next earnings are expected to be released in 57 days.
What The Experts Say On Snap:
- Credit Suisse has decided to maintain their Outperform rating on Snap, which currently sits at a price target of $93.
- JMP Securities has decided to maintain their Market Outperform rating on Snap, which currently sits at a price target of $65.
- RBC Capital downgraded its action to Sector Perform with a price target of $40
- Rosenblatt has decided to maintain their Buy rating on Snap, which currently sits at a price target of $50.
- Credit Suisse has decided to maintain their Outperform rating on Snap, which currently sits at a price target of $81.
Options are a riskier asset compared to just trading the stock, but they have higher profit potential. Serious options traders manage this risk by educating themselves daily, scaling in and out of trades, following more than one indicator, and following the markets closely.
If you are already an options trader or would like to get started, head on over to Benzinga Pro. Benzinga Pro gives you up-to-date news and analytics to empower your investing and trading strategy.
27% profits every 20 days?
This is what Nic Chahine averages with his options 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.
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