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.
This whale alert can help traders discover the next big trading opportunities.
Whales are entities with large sums of money and we track their transactions here at Benzinga on our options activity scanner.
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Traders often look for circumstances when the market estimation of an option diverges away from its normal worth. Abnormal amounts of trading activity could push option prices to hyperbolic or underperforming levels.
Below are some instances of options activity happening in the Financials sector:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| HOOD | CALL | SWEEP | BEARISH | 08/19/22 | $10.00 | $42.3K | 16.3K | 5.5K |
| C | PUT | TRADE | BEARISH | 06/16/23 | $40.00 | $45.6K | 8.8K | 2.1K |
| SCHW | PUT | TRADE | BULLISH | 06/16/23 | $65.00 | $32.6K | 860 | 487 |
| XP | CALL | SWEEP | BULLISH | 08/19/22 | $23.00 | $32.8K | 64 | 410 |
| JPM | CALL | TRADE | BULLISH | 06/16/23 | $140.00 | $122.0K | 1.5K | 401 |
| AXP | PUT | TRADE | BEARISH | 08/19/22 | $150.00 | $36.0K | 603 | 185 |
| GS | CALL | SWEEP | BULLISH | 06/16/23 | $390.00 | $33.5K | 99 | 49 |
| COIN | CALL | SWEEP | BULLISH | 09/09/22 | $68.00 | $25.9K | 2 | 43 |
| UPST | PUT | TRADE | BEARISH | 01/19/24 | $590.00 | $56.4K | 2 | 4 |
Explanation
These bullet-by-bullet explanations have been constructed using the accompanying table.
• Regarding HOOD (NASDAQ:HOOD), we observe a call option sweep with bearish sentiment. It expires in 17 day(s) on August 19, 2022. Parties traded 1000 contract(s) at a $10.00 strike. This particular call needed to be split into 31 different trades to become filled. The total cost received by the writing party (or parties) was $42.3K, with a price of $42.0 per contract. There were 16323 open contracts at this strike prior to today, and today 5595 contract(s) were bought and sold.
• Regarding C (NYSE:C), we observe a put option trade with bearish sentiment. It expires in 318 day(s) on June 16, 2023. Parties traded 234 contract(s) at a $40.00 strike. The total cost received by the writing party (or parties) was $45.6K, with a price of $195.0 per contract. There were 8845 open contracts at this strike prior to today, and today 2104 contract(s) were bought and sold.
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• Regarding SCHW (NYSE:SCHW), we observe a put option trade with bullish sentiment. It expires in 318 day(s) on June 16, 2023. Parties traded 48 contract(s) at a $65.00 strike. The total cost received by the writing party (or parties) was $32.6K, with a price of $680.0 per contract. There were 860 open contracts at this strike prior to today, and today 487 contract(s) were bought and sold.
• Regarding XP (NASDAQ:XP), we observe a call option sweep with bullish sentiment. It expires in 17 day(s) on August 19, 2022. Parties traded 410 contract(s) at a $23.00 strike. This particular call needed to be split into 17 different trades to become filled. The total cost received by the writing party (or parties) was $32.8K, with a price of $80.0 per contract. There were 64 open contracts at this strike prior to today, and today 410 contract(s) were bought and sold.
• For JPM (NYSE:JPM), we notice a call option trade that happens to be bullish, expiring in 318 day(s) on June 16, 2023. This event was a transfer of 400 contract(s) at a $140.00 strike. The total cost received by the writing party (or parties) was $122.0K, with a price of $305.0 per contract. There were 1546 open contracts at this strike prior to today, and today 401 contract(s) were bought and sold.
• Regarding AXP (NYSE:AXP), we observe a put option trade with bearish sentiment. It expires in 17 day(s) on August 19, 2022. Parties traded 125 contract(s) at a $150.00 strike. The total cost received by the writing party (or parties) was $36.0K, with a price of $288.0 per contract. There were 603 open contracts at this strike prior to today, and today 185 contract(s) were bought and sold.
• For GS (NYSE:GS), we notice a call option sweep that happens to be bullish, expiring in 318 day(s) on June 16, 2023. This event was a transfer of 25 contract(s) at a $390.00 strike. This particular call needed to be split into 6 different trades to become filled. The total cost received by the writing party (or parties) was $33.5K, with a price of $1340.0 per contract. There were 99 open contracts at this strike prior to today, and today 49 contract(s) were bought and sold.
• For COIN (NASDAQ:COIN), we notice a call option sweep that happens to be bullish, expiring in 38 day(s) on September 9, 2022. This event was a transfer of 25 contract(s) at a $68.00 strike. This particular call needed to be split into 4 different trades to become filled. The total cost received by the writing party (or parties) was $25.9K, with a price of $1039.0 per contract. There were 2 open contracts at this strike prior to today, and today 43 contract(s) were bought and sold.
• Regarding UPST (NASDAQ:UPST), we observe a put option trade with bearish sentiment. It expires in 535 day(s) on January 19, 2024. Parties traded 1 contract(s) at a $590.00 strike. The total cost received by the writing party (or parties) was $56.4K, with a price of $56425.0 per contract. There were 2 open contracts at this strike prior to today, and today 4 contract(s) were bought and sold.
Options Alert Terminology
- Call Contracts: The right to buy shares as indicated in the contract.
- Put Contracts: The right to sell shares as indicated in the contract.
- Expiration Date: When the contract expires. One must act on the contract by this date if one wants to use it.
- Premium/Option Price: The price of the contract.
For more information, visit our Guide to Understanding Options Alerts or read more news on unusual options activity.
This article was generated by Benzinga's automated content engine and reviewed by an editor.
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.