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.
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 21 options trades for Energy Transfer.
This isn't normal.
The overall sentiment of these big-money traders is split between 28% bullish and 71%, bearish.
Out of all of the options we uncovered, there was 1 put, for a total amount of $37,486, and 20, calls, for a total amount of $988,157..
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 $7.0 to $12.0 for Energy Transfer over the last 3 months.
Volume & Open Interest Development
Looking at the volume and open interest is an insightful way to conduct due diligence on a stock.
This data can help you track the liquidity and interest for Energy Transfer'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 Energy Transfer's whale activity within a strike price range from $7.0 to $12.0 in 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 | TRADE | NEUTRAL | 01/19/24 | $7.00 | $129.0K | 28.3K | 1.4K |
| ET | CALL | SWEEP | BEARISH | 01/19/24 | $7.00 | $86.0K | 28.3K | 1.1K |
| ET | CALL | SWEEP | BEARISH | 08/05/22 | $11.00 | $80.6K | 10.3K | 1.9K |
| ET | CALL | TRADE | NEUTRAL | 01/19/24 | $7.00 | $57.3K | 28.3K | 1.5K |
| ET | CALL | SWEEP | BEARISH | 01/20/23 | $12.00 | $51.0K | 58.2K | 1.0K |
Where Is Energy Transfer Standing Right Now?
- With a volume of 13,239,581, the price of ET is down -0.13% at $11.3.
- RSI indicators hint that the underlying stock may be overbought.
- Next earnings are expected to be released in 1 days.
What The Experts Say On Energy Transfer:
- Barclays has decided to maintain their Overweight rating on Energy Transfer, which currently sits at a price target of $13.
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 Energy Transfer, 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.
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!