20-Year Pro Trader Reveals His "MoneyLine"
Ditch your indicators and use the "MoneyLine". A simple line tells you when to buy and sell without the guesswork. It’s a line on a chart that’s helped Nic Chahine win 83% of his options buys. Here's how he does it.
Shares of Taiwan Semiconductor Mfg. Co. Ltd. (NYSE:TSM) Wednesday climbed almost 4%, ahead of its first-quarter earnings report.
On CNBC's "Options Action," Tony Zhang said the stock traded more than three times its average daily volume on Wednesday.
“The options market is implying a pretty sizable move of about 4.7% versus the average we’ve seen over the last eight quarters of only 3.5%, he added.
Check out other semiconductor names making big moves in the premarket.
An institutional trader bought 6,000 of the April 28 weekly 109 calls at an average price of 97 cents per contract as well as 3,500 of the April 28 weekly 110 calls at 99 cents per contract, Zhang mentioned. The trader expects Taiwan Semiconductor’s stock to rise by at least 8% by April 28 expiration.
20-Year Pro Trader Reveals His "MoneyLine"
Ditch your indicators and use the "MoneyLine". A simple line tells you when to buy and sell without the guesswork. It’s a line on a chart that’s helped Nic Chahine win 83% of his options buys. Here's how he does it.
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!