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.
Someone with a lot of money to spend has taken a bearish stance on Energy Transfer (NYSE:ET).
And retail traders should know.
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We noticed this today when the big position showed up on publicly available options history that we track here at Benzinga.
Whether this is an institution or just a wealthy individual, we don't know. But when something this big happens with ET, it often means somebody knows something is about to happen.
Today, Benzinga's options scanner spotted 17 options trades for Energy Transfer.
This isn't normal.
The overall sentiment of these big-money traders is split between 23% bullish and 76%, bearish.
Out of all of the options we uncovered, there was 1 put, for a total amount of $28,500, and 16, calls, for a total amount of $760,640..
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 $5.0 to $12.0 for Energy Transfer over the last 3 months.
Volume & Open Interest Development
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In terms of liquidity and interest, the mean open interest for Energy Transfer options trades today is 29268.29 with a total volume of 9,582.00.
In the following chart, we are able to follow the development of volume and open interest of call and put options for Energy Transfer's big money trades within a strike price range of $5.0 to $12.0 over the last 30 days.
Energy Transfer 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 |
|---|---|---|---|---|---|---|---|---|
| ET | CALL | SWEEP | NEUTRAL | 01/20/23 | $7.00 | $151.1K | 38.0K | 406 |
| ET | CALL | TRADE | BEARISH | 01/20/23 | $7.00 | $65.1K | 38.0K | 234 |
| ET | CALL | SWEEP | BEARISH | 04/14/22 | $9.00 | $52.4K | 22.7K | 1.9K |
| ET | CALL | TRADE | BULLISH | 01/20/23 | $5.00 | $48.0K | 13.6K | 0 |
| ET | CALL | SWEEP | BEARISH | 04/14/22 | $9.00 | $43.7K | 22.7K | 490 |
Where Is Energy Transfer Standing Right Now?
- With a volume of 22,294,877, the price of ET is up 3.88% at $10.17.
- RSI indicators hint that the underlying stock may be approaching overbought.
- Next earnings are expected to be released in 66 days.
What The Experts Say On Energy Transfer:
- Raymond James has decided to maintain their Strong Buy rating on Energy Transfer, which currently sits at a price target of $14.
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% 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.