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 will search for circumstances when the market estimation of an option diverges heavily from its normal worth. High amounts of trading activity could push option prices to exaggerated or underestimated levels.
Below are some instances of options activity happening in the Information Technology sector:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| NVDA | PUT | SWEEP | BEARISH | 02/17/23 | $130.00 | $103.0K | 16.3K | 11.5K |
| MARA | CALL | SWEEP | BULLISH | 03/17/23 | $9.00 | $33.4K | 1.6K | 8.3K |
| IBM | CALL | TRADE | BEARISH | 02/17/23 | $140.00 | $826.2K | 10.5K | 2.8K |
| RIOT | CALL | SWEEP | BULLISH | 03/17/23 | $7.00 | $44.4K | 8.3K | 1.3K |
| AMD | PUT | SWEEP | NEUTRAL | 03/17/23 | $65.00 | $40.2K | 15.0K | 1.2K |
| ZS | PUT | SWEEP | BEARISH | 01/13/23 | $101.00 | $105.1K | 12 | 1.0K |
| QCOM | CALL | SWEEP | BEARISH | 01/20/23 | $120.00 | $44.0K | 5.8K | 940 |
| PLTR | CALL | TRADE | NEUTRAL | 01/19/24 | $7.00 | $65.2K | 9.9K | 881 |
| SNOW | PUT | SWEEP | BULLISH | 03/17/23 | $145.00 | $73.5K | 301 | 709 |
| SPLK | CALL | SWEEP | BULLISH | 01/20/23 | $95.00 | $35.4K | 3.7K | 532 |
Explanation
These itemized elaborations have been created using the accompanying table.
• Regarding NVDA (NASDAQ:NVDA), we observe a put option sweep with bearish sentiment. It expires in 39 day(s) on February 17, 2023. Parties traded 500 contract(s) at a $130.00 strike. This particular put needed to be split into 16 different trades to become filled. The total cost received by the writing party (or parties) was $103.0K, with a price of $206.0 per contract. There were 16361 open contracts at this strike prior to today, and today 11519 contract(s) were bought and sold.
• For MARA (NASDAQ:MARA), we notice a call option sweep that happens to be bullish, expiring in 67 day(s) on March 17, 2023. This event was a transfer of 1192 contract(s) at a $9.00 strike. This particular call needed to be split into 13 different trades to become filled. The total cost received by the writing party (or parties) was $33.4K, with a price of $28.0 per contract. There were 1650 open contracts at this strike prior to today, and today 8332 contract(s) were bought and sold.
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• For IBM (NYSE:IBM), we notice a call option trade that happens to be bearish, expiring in 39 day(s) on February 17, 2023. This event was a transfer of 972 contract(s) at a $140.00 strike. The total cost received by the writing party (or parties) was $826.2K, with a price of $850.0 per contract. There were 10514 open contracts at this strike prior to today, and today 2802 contract(s) were bought and sold.
• For RIOT (NASDAQ:RIOT), we notice a call option sweep that happens to be bullish, expiring in 67 day(s) on March 17, 2023. This event was a transfer of 1141 contract(s) at a $7.00 strike. This particular call needed to be split into 22 different trades to become filled. The total cost received by the writing party (or parties) was $44.4K, with a price of $39.0 per contract. There were 8376 open contracts at this strike prior to today, and today 1333 contract(s) were bought and sold.
• For AMD (NASDAQ:AMD), we notice a put option sweep that happens to be neutral, expiring in 67 day(s) on March 17, 2023. This event was a transfer of 98 contract(s) at a $65.00 strike. This particular put needed to be split into 3 different trades to become filled. The total cost received by the writing party (or parties) was $40.2K, with a price of $410.0 per contract. There were 15059 open contracts at this strike prior to today, and today 1288 contract(s) were bought and sold.
• For ZS (NASDAQ:ZS), we notice a put option sweep that happens to be bearish, expiring in 4 day(s) on January 13, 2023. This event was a transfer of 1000 contract(s) at a $101.00 strike. This particular put needed to be split into 16 different trades to become filled. The total cost received by the writing party (or parties) was $105.1K, with a price of $105.0 per contract. There were 12 open contracts at this strike prior to today, and today 1020 contract(s) were bought and sold.
• For QCOM (NASDAQ:QCOM), we notice a call option sweep that happens to be bearish, expiring in 11 day(s) on January 20, 2023. This event was a transfer of 200 contract(s) at a $120.00 strike. This particular call needed to be split into 10 different trades to become filled. The total cost received by the writing party (or parties) was $44.0K, with a price of $220.0 per contract. There were 5861 open contracts at this strike prior to today, and today 940 contract(s) were bought and sold.
• Regarding PLTR (NYSE:PLTR), we observe a call option trade with neutral sentiment. It expires in 375 day(s) on January 19, 2024. Parties traded 400 contract(s) at a $7.00 strike. The total cost received by the writing party (or parties) was $65.2K, with a price of $163.0 per contract. There were 9978 open contracts at this strike prior to today, and today 881 contract(s) were bought and sold.
• Regarding SNOW (NYSE:SNOW), we observe a put option sweep with bullish sentiment. It expires in 67 day(s) on March 17, 2023. Parties traded 35 contract(s) at a $145.00 strike. This particular put needed to be split into 30 different trades to become filled. The total cost received by the writing party (or parties) was $73.5K, with a price of $2100.0 per contract. There were 301 open contracts at this strike prior to today, and today 709 contract(s) were bought and sold.
• For SPLK (NASDAQ:SPLK), we notice a call option sweep that happens to be bullish, expiring in 11 day(s) on January 20, 2023. This event was a transfer of 326 contract(s) at a $95.00 strike. This particular call needed to be split into 61 different trades to become filled. The total cost received by the writing party (or parties) was $35.4K, with a price of $108.0 per contract. There were 3767 open contracts at this strike prior to today, and today 532 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 news on 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.