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 Energy Transfer (NYSE:ET).
And retail traders should know.
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!
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.
So how do we know what this whale just did?
Today, Benzinga's options scanner spotted 74 uncommon options trades for Energy Transfer.
This isn't normal.
The overall sentiment of these big-money traders is split between 52% bullish and 47%, bearish.
Out of all of the special options we uncovered, 14 are puts, for a total amount of $1,342,763, and 60 are calls, for a total amount of $3,247,354.
What's The Price Target?
Want Private Access to Benzinga Analyst?
Check out the latest strategies our team of experts are using every week so that you can always adapt to the market like the pros!—Get FULL Access to This Week's Webinar Here.
Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $4.0 to $22.0 for Energy Transfer 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 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 trades within a strike price range from $4.0 to $22.0 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 | PUT | TRADE | BULLISH | 01/20/23 | $10.00 | $395.0K | 37.6K | 6.9K |
| ET | CALL | TRADE | BEARISH | 06/21/24 | $8.00 | $152.5K | 3.9K | 1.9K |
| ET | CALL | TRADE | BEARISH | 10/28/22 | $8.00 | $129.0K | 0 | 3.8K |
| ET | PUT | SWEEP | BULLISH | 10/21/22 | $11.00 | $112.4K | 22.7K | 2.9K |
| ET | CALL | TRADE | BULLISH | 01/19/24 | $12.00 | $108.0K | 47.2K | 3.2K |
Where Is Energy Transfer Standing Right Now?
- With a volume of 54,363,497, the price of ET is down -6.85% at $10.54.
- RSI indicators hint that the underlying stock may be oversold.
- Next earnings are expected to be released in 40 days.
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.