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 bullish stance on Coupa Software (NASDAQ:COUP).
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 COUP, it often means somebody knows something is about to happen.
So how do we know what this whale just did?
Today, Benzinga's options scanner spotted 43 uncommon options trades for Coupa Software.
This isn't normal.
The overall sentiment of these big-money traders is split between 58% bullish and 41%, bearish.
Out of all of the special options we uncovered, 41 are puts, for a total amount of $3,174,132, and 2 are calls, for a total amount of $91,280.
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 $55.0 to $230.0 for Coupa Software over the last 3 months.
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Volume & Open Interest Development
In terms of liquidity and interest, the mean open interest for Coupa Software options trades today is 414.79 with a total volume of 16,690.00.
In the following chart, we are able to follow the development of volume and open interest of call and put options for Coupa Software's big money trades within a strike price range of $55.0 to $230.0 over the last 30 days.
Coupa Software 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 |
|---|---|---|---|---|---|---|---|---|
| COUP | PUT | SWEEP | BULLISH | 09/16/22 | $70.00 | $310.5K | 607 | 342 |
| COUP | PUT | SWEEP | BEARISH | 03/18/22 | $100.00 | $294.3K | 364 | 280 |
| COUP | PUT | SWEEP | BEARISH | 03/18/22 | $100.00 | $283.0K | 364 | 176 |
| COUP | PUT | SWEEP | BULLISH | 09/16/22 | $70.00 | $207.0K | 607 | 492 |
| COUP | PUT | TRADE | BULLISH | 01/20/23 | $55.00 | $147.0K | 203 | 1.0K |
Where Is Coupa Software Standing Right Now?
- With a volume of 21,510,798, the price of COUP is down -21.03% at $70.94.
- RSI indicators hint that the underlying stock may be oversold.
- Next earnings are expected to be released in 83 days.
What The Experts Say On Coupa Software:
- Evercore ISI Group has decided to maintain their In-Line rating on Coupa Software, which currently sits at a price target of $75.
- Mizuho has decided to maintain their Neutral rating on Coupa Software, which currently sits at a price target of $75.
- Morgan Stanley has decided to maintain their Overweight rating on Coupa Software, which currently sits at a price target of $160.
- Raymond James has decided to maintain their Outperform rating on Coupa Software, which currently sits at a price target of $75.
- RBC Capital has decided to maintain their Sector Perform rating on Coupa Software, which currently sits at a price target of $65.
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.
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.