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.
Here's the list of options activity happening in today's session:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| CS | PUT | SWEEP | BEARISH | 04/21/23 | $1.50 | $89.4K | 66.3K | 18.6K |
| FRC | PUT | TRADE | NEUTRAL | 04/21/23 | $25.00 | $45.0K | 6.2K | 1.8K |
| MFIN | PUT | SWEEP | BEARISH | 08/18/23 | $5.00 | $25.0K | 8.9K | 1.3K |
| SCHW | PUT | SWEEP | BEARISH | 05/19/23 | $50.00 | $43.5K | 3.6K | 1.2K |
| JPM | CALL | TRADE | BEARISH | 03/17/23 | $125.00 | $25.8K | 6.0K | 1.2K |
| HSBC | PUT | TRADE | BULLISH | 06/16/23 | $31.00 | $27.4K | 1.3K | 445 |
| MS | CALL | SWEEP | BEARISH | 04/21/23 | $87.50 | $33.4K | 2.3K | 374 |
| MET | CALL | TRADE | NEUTRAL | 04/21/23 | $60.00 | $27.4K | 6.6K | 301 |
| COIN | PUT | SWEEP | BULLISH | 01/17/25 | $35.00 | $46.2K | 1.1K | 296 |
| SI | PUT | TRADE | BEARISH | 03/17/23 | $5.00 | $45.9K | 11.5K | 257 |
Explanation
These itemized elaborations have been created using the accompanying table.
• For CS (NYSE:CS), we notice a put option sweep that happens to be bearish, expiring in 35 day(s) on April 21, 2023. This event was a transfer of 2349 contract(s) at a $1.50 strike. This particular put needed to be split into 44 different trades to become filled. The total cost received by the writing party (or parties) was $89.4K, with a price of $38.0 per contract. There were 66337 open contracts at this strike prior to today, and today 18650 contract(s) were bought and sold.
• Regarding FRC (NYSE:FRC), we observe a put option trade with neutral sentiment. It expires in 35 day(s) on April 21, 2023. Parties traded 50 contract(s) at a $25.00 strike. The total cost received by the writing party (or parties) was $45.0K, with a price of $900.0 per contract. There were 6298 open contracts at this strike prior to today, and today 1854 contract(s) were bought and sold.
• Regarding MFIN (NASDAQ:MFIN), we observe a put option sweep with bearish sentiment. It expires in 154 day(s) on August 18, 2023. Parties traded 500 contract(s) at a $5.00 strike. This particular put needed to be split into 6 different trades to become filled. The total cost received by the writing party (or parties) was $25.0K, with a price of $52.0 per contract. There were 8978 open contracts at this strike prior to today, and today 1324 contract(s) were bought and sold.
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• Regarding SCHW (NYSE:SCHW), we observe a put option sweep with bearish sentiment. It expires in 63 day(s) on May 19, 2023. Parties traded 113 contract(s) at a $50.00 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 $43.5K, with a price of $385.0 per contract. There were 3629 open contracts at this strike prior to today, and today 1274 contract(s) were bought and sold.
• For JPM (NYSE:JPM), we notice a call option trade that happens to be bearish, is expiring today. Parties traded 200 contract(s) at a $125.00 strike. The total cost received by the writing party (or parties) was $25.8K, with a price of $129.0 per contract. There were 6027 open contracts at this strike prior to today, and today 1261 contract(s) were bought and sold.
• Regarding HSBC (NYSE:HSBC), we observe a put option trade with bullish sentiment. It expires in 91 day(s) on June 16, 2023. Parties traded 196 contract(s) at a $31.00 strike. The total cost received by the writing party (or parties) was $27.4K, with a price of $140.0 per contract. There were 1338 open contracts at this strike prior to today, and today 445 contract(s) were bought and sold.
• Regarding MS (NYSE:MS), we observe a call option sweep with bearish sentiment. It expires in 35 day(s) on April 21, 2023. Parties traded 108 contract(s) at a $87.50 strike. This particular call needed to be split into 9 different trades to become filled. The total cost received by the writing party (or parties) was $33.4K, with a price of $310.0 per contract. There were 2329 open contracts at this strike prior to today, and today 374 contract(s) were bought and sold.
• For MET (NYSE:MET), we notice a call option trade that happens to be neutral, expiring in 35 day(s) on April 21, 2023. This event was a transfer of 239 contract(s) at a $60.00 strike. The total cost received by the writing party (or parties) was $27.4K, with a price of $115.0 per contract. There were 6688 open contracts at this strike prior to today, and today 301 contract(s) were bought and sold.
• For COIN (NASDAQ:COIN), we notice a put option sweep that happens to be bullish, expiring in 672 day(s) on January 17, 2025. This event was a transfer of 39 contract(s) at a $35.00 strike. This particular put needed to be split into 6 different trades to become filled. The total cost received by the writing party (or parties) was $46.2K, with a price of $1185.0 per contract. There were 1128 open contracts at this strike prior to today, and today 296 contract(s) were bought and sold.
• For SI (NYSE:SI), we notice a put option trade that happens to be bearish, is expiring today. Parties traded 159 contract(s) at a $5.00 strike. The total cost received by the writing party (or parties) was $45.9K, with a price of $289.0 per contract. There were 11578 open contracts at this strike prior to today, and today 257 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.