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 Veeva Sys (NYSE:VEEV).
And retail traders should know.
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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 VEEV, it often means somebody knows something is about to happen.
Today, Benzinga's options scanner spotted 12 options trades for Veeva Sys.
This isn't normal.
The overall sentiment of these big-money traders is split between 16% bullish and 83%, bearish.
Out of all of the options we uncovered, 11 are puts, for a total amount of $631,710, and there was 1 call, for a total amount of $28,200.
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 $200.0 to $320.0 for Veeva Sys over the last 3 months.
Volume & Open Interest Development
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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 Veeva Sys'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 Veeva Sys's whale activity within a strike price range from $200.0 to $320.0 in the last 30 days.
Veeva Sys 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 |
|---|---|---|---|---|---|---|---|---|
| VEEV | PUT | TRADE | BULLISH | 01/19/24 | $300.00 | $79.2K | 0 | 6 |
| VEEV | PUT | TRADE | BEARISH | 01/19/24 | $270.00 | $72.2K | 3 | 7 |
| VEEV | PUT | TRADE | BEARISH | 01/19/24 | $280.00 | $67.8K | 3 | 12 |
| VEEV | PUT | TRADE | BEARISH | 01/19/24 | $280.00 | $67.8K | 3 | 6 |
| VEEV | PUT | TRADE | BEARISH | 01/19/24 | $320.00 | $60.8K | 0 | 0 |
Where Is Veeva Sys Standing Right Now?
- With a volume of 413,615, the price of VEEV is up 1.25% at $166.87.
- RSI indicators hint that the underlying stock is currently neutral between overbought and oversold.
- Next earnings are expected to be released in 61 days.
What The Experts Say On Veeva Sys:
- SVB Leerink has decided to maintain their Outperform rating on Veeva Sys, which currently sits at a price target of $242.
- Baird has decided to maintain their Outperform rating on Veeva Sys, which currently sits at a price target of $250.
- Barclays has decided to maintain their Equal-Weight rating on Veeva Sys, which currently sits at a price target of $205.
- RBC Capital has decided to maintain their Outperform rating on Veeva Sys, which currently sits at a price target of $225.
- UBS has decided to maintain their Neutral rating on Veeva Sys, which currently sits at a price target of $185.
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 Veeva Sys, 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.