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 Procter & Gamble (NYSE:PG).
And retail traders should know.
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 PG, 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 17 uncommon options trades for Procter & Gamble.
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 special options we uncovered, 9 are puts, for a total amount of $640,478, and 8 are calls, for a total amount of $377,099.
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 $90.0 to $170.0 for Procter & Gamble over the last 3 months.
Volume & Open Interest Development
Looking at the volume and open interest is a powerful move while trading options. This data can help you track the liquidity and interest for Procter & Gamble's options for a given strike price. Below, we can observe the evolution of the volume and open interest of calls and puts, respectively, for all of Procter & Gamble's whale trades within a strike price range from $90.0 to $170.0 in the last 30 days.
Procter & Gamble 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 |
|---|---|---|---|---|---|---|---|---|
| PG | PUT | TRADE | NEUTRAL | 08/19/22 | $170.00 | $238.1K | 81 | 81 |
| PG | PUT | SWEEP | BEARISH | 01/19/24 | $140.00 | $126.3K | 477 | 100 |
| PG | CALL | SWEEP | BEARISH | 08/19/22 | $141.00 | $110.8K | 1.6K | 1.1K |
| PG | CALL | TRADE | BEARISH | 08/19/22 | $150.00 | $57.0K | 6.6K | 1.7K |
| PG | PUT | TRADE | BEARISH | 06/16/23 | $140.00 | $56.6K | 1.0K | 52 |
Where Is Procter & Gamble Standing Right Now?
- With a volume of 8,136,628, the price of PG is up 2.92% at $142.96.
- RSI indicators hint that the underlying stock is currently neutral between overbought and oversold.
- Next earnings are expected to be released in 78 days.
What The Experts Say On Procter & Gamble:
- JP Morgan has decided to maintain their Neutral rating on Procter & Gamble, which currently sits at a price target of $156.
- Truist Securities has decided to maintain their Buy rating on Procter & Gamble, which currently sits at a price target of $160.
- Raymond James has decided to maintain their Outperform rating on Procter & Gamble, which currently sits at a price target of $175.
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 want to stay updated on the latest options trades for Procter & Gamble, Benzinga Pro gives you real-time options trades alerts.
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.
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