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 Energy sector:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| STNG | CALL | TRADE | BULLISH | 01/17/25 | $35.00 | $272.2K | 6.3K | 1.6K |
| DVN | CALL | TRADE | NEUTRAL | 01/20/23 | $70.00 | $34.5K | 8.7K | 1.4K |
| OXY | CALL | TRADE | BULLISH | 12/23/22 | $70.00 | $68.0K | 554 | 865 |
| CHRD | CALL | TRADE | BEARISH | 12/16/22 | $165.00 | $36.2K | 273 | 500 |
| CHK | CALL | SWEEP | BULLISH | 12/16/22 | $100.00 | $35.0K | 3.0K | 448 |
| ARCH | CALL | TRADE | BULLISH | 12/16/22 | $155.00 | $40.0K | 84 | 206 |
| HAL | CALL | SWEEP | BULLISH | 02/17/23 | $35.00 | $36.4K | 74 | 188 |
| MRO | CALL | SWEEP | BULLISH | 01/20/23 | $28.00 | $29.1K | 2.1K | 129 |
| DHT | CALL | TRADE | BEARISH | 01/20/23 | $8.00 | $31.8K | 2.3K | 125 |
| MPC | PUT | TRADE | BULLISH | 04/21/23 | $130.00 | $28.8K | 121 | 71 |
Explanation
These bullet-by-bullet explanations have been constructed using the accompanying table.
• Regarding STNG (NYSE:STNG), we observe a call option trade with bullish sentiment. It expires in 788 day(s) on January 17, 2025. Parties traded 100 contract(s) at a $35.00 strike. The total cost received by the writing party (or parties) was $272.2K, with a price of $2722.0 per contract. There were 6368 open contracts at this strike prior to today, and today 1675 contract(s) were bought and sold.
• For DVN (NYSE:DVN), we notice a call option trade that happens to be neutral, expiring in 60 day(s) on January 20, 2023. This event was a transfer of 100 contract(s) at a $70.00 strike. The total cost received by the writing party (or parties) was $34.5K, with a price of $345.0 per contract. There were 8705 open contracts at this strike prior to today, and today 1435 contract(s) were bought and sold.
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• For OXY (NYSE:OXY), we notice a call option trade that happens to be bullish, expiring in 32 day(s) on December 23, 2022. This event was a transfer of 200 contract(s) at a $70.00 strike. The total cost received by the writing party (or parties) was $68.0K, with a price of $340.0 per contract. There were 554 open contracts at this strike prior to today, and today 865 contract(s) were bought and sold.
• For CHRD (NASDAQ:CHRD), we notice a call option trade that happens to be bearish, expiring in 25 day(s) on December 16, 2022. This event was a transfer of 250 contract(s) at a $165.00 strike. The total cost received by the writing party (or parties) was $36.2K, with a price of $145.0 per contract. There were 273 open contracts at this strike prior to today, and today 500 contract(s) were bought and sold.
• Regarding CHK (NASDAQ:CHK), we observe a call option sweep with bullish sentiment. It expires in 25 day(s) on December 16, 2022. Parties traded 100 contract(s) at a $100.00 strike. This particular call needed to be split into 20 different trades to become filled. The total cost received by the writing party (or parties) was $35.0K, with a price of $350.0 per contract. There were 3072 open contracts at this strike prior to today, and today 448 contract(s) were bought and sold.
• Regarding ARCH (NYSE:ARCH), we observe a call option trade with bullish sentiment. It expires in 25 day(s) on December 16, 2022. Parties traded 100 contract(s) at a $155.00 strike. The total cost received by the writing party (or parties) was $40.0K, with a price of $400.0 per contract. There were 84 open contracts at this strike prior to today, and today 206 contract(s) were bought and sold.
• For HAL (NYSE:HAL), we notice a call option sweep that happens to be bullish, expiring in 88 day(s) on February 17, 2023. This event was a transfer of 100 contract(s) at a $35.00 strike. This particular call needed to be split into 8 different trades to become filled. The total cost received by the writing party (or parties) was $36.4K, with a price of $362.0 per contract. There were 74 open contracts at this strike prior to today, and today 188 contract(s) were bought and sold.
• For MRO (NYSE:MRO), we notice a call option sweep that happens to be bullish, expiring in 60 day(s) on January 20, 2023. This event was a transfer of 82 contract(s) at a $28.00 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 $29.1K, with a price of $355.0 per contract. There were 2107 open contracts at this strike prior to today, and today 129 contract(s) were bought and sold.
• Regarding DHT (NYSE:DHT), we observe a call option trade with bearish sentiment. It expires in 60 day(s) on January 20, 2023. Parties traded 125 contract(s) at a $8.00 strike. The total cost received by the writing party (or parties) was $31.8K, with a price of $255.0 per contract. There were 2358 open contracts at this strike prior to today, and today 125 contract(s) were bought and sold.
• Regarding MPC (NYSE:MPC), we observe a put option trade with bullish sentiment. It expires in 151 day(s) on April 21, 2023. Parties traded 17 contract(s) at a $130.00 strike. The total cost received by the writing party (or parties) was $28.8K, with a price of $1695.0 per contract. There were 121 open contracts at this strike prior to today, and today 71 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 about 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.