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 Roblox (NYSE:RBLX).
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 RBLX, it often means somebody knows something is about to happen.
Today, Benzinga's options scanner spotted 12 options trades for Roblox.
This isn't normal.
The overall sentiment of these big-money traders is split between 66% bullish and 33%, bearish.
Out of all of the options we uncovered, 11 are puts, for a total amount of $618,207, and there was 1 call, for a total amount of $32,490.
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 $30.0 to $65.0 for Roblox over the last 3 months.
Volume & Open Interest Development
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In terms of liquidity and interest, the mean open interest for Roblox options trades today is 2343.44 with a total volume of 5,819.00.
In the following chart, we are able to follow the development of volume and open interest of call and put options for Roblox's big money trades within a strike price range of $30.0 to $65.0 over the last 30 days.
Roblox 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 |
|---|---|---|---|---|---|---|---|---|
| RBLX | PUT | TRADE | BULLISH | 11/18/22 | $45.00 | $111.3K | 3.8K | 585 |
| RBLX | PUT | SWEEP | BEARISH | 11/18/22 | $60.00 | $89.7K | 123 | 50 |
| RBLX | PUT | SWEEP | BULLISH | 04/21/23 | $30.00 | $88.1K | 715 | 37 |
| RBLX | PUT | TRADE | BULLISH | 11/18/22 | $45.00 | $62.8K | 3.8K | 809 |
| RBLX | PUT | SWEEP | BULLISH | 12/02/22 | $43.00 | $58.3K | 137 | 100 |
Where Is Roblox Standing Right Now?
- With a volume of 11,660,466, the price of RBLX is down -3.57% at $41.83.
- RSI indicators hint that the underlying stock may be approaching overbought.
- Next earnings are expected to be released in 21 days.
What The Experts Say On Roblox:
- MoffettNathanson downgraded its action to Underperform with a price target of $19
- Barclays downgraded its action to Underweight with a price target of $20
- BTIG has decided to maintain their Buy rating on Roblox, which currently sits at a price target of $51.
- Morgan Stanley has decided to maintain their Equal-Weight rating on Roblox, which currently sits at a price target of $35.
- Jefferies has decided to maintain their Hold rating on Roblox, which currently sits at a price target of $40.
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 Roblox, 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.