20-Year Pro Trader Reveals His "MoneyLine"
Ditch your indicators and use the "MoneyLine". A simple line tells you when to buy and sell without the guesswork. It’s a line on a chart that’s helped Nic Chahine win 83% of his options buys. Here's how he does it.
Someone with a lot of money to spend has taken a bearish stance on Prometheus Biosciences (NASDAQ:RXDX).
And retail traders should know.
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 RXDX, it often means somebody knows something is about to happen.
So how do we know what this whale just did?
Today, Benzinga's options scanner spotted 12 uncommon options trades for Prometheus Biosciences.
This isn't normal.
The overall sentiment of these big-money traders is split between 25% bullish and 75%, bearish.
Out of all of the special options we uncovered, 4 are puts, for a total amount of $153,375, and 8 are calls, for a total amount of $1,022,065.
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 $95.0 to $190.0 for Prometheus Biosciences over the last 3 months.
Volume & Open Interest Development
Looking at the volume and open interest is a powerful move while trading options. This data can help you track the liquidity and interest for Prometheus Biosciences'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 Prometheus Biosciences's whale trades within a strike price range from $95.0 to $190.0 in the last 30 days.
Prometheus Biosciences 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 |
|---|---|---|---|---|---|---|---|---|
| RXDX | CALL | SWEEP | BULLISH | 04/21/23 | $125.00 | $340.0K | 105 | 356 |
| RXDX | CALL | SWEEP | BULLISH | 04/21/23 | $175.00 | $178.9K | 100 | 100 |
| RXDX | CALL | TRADE | BEARISH | 11/17/23 | $170.00 | $137.5K | 0 | 50 |
| RXDX | CALL | TRADE | BEARISH | 11/17/23 | $170.00 | $135.0K | 0 | 100 |
| RXDX | CALL | TRADE | BEARISH | 08/18/23 | $175.00 | $105.0K | 19 | 50 |
Where Is Prometheus Biosciences Standing Right Now?
- With a volume of 7,429,251, the price of RXDX is up 69.28% at $193.0.
- RSI indicators hint that the underlying stock may be overbought.
- Next earnings are expected to be released in 24 days.
What The Experts Say On Prometheus Biosciences:
- Stifel downgraded its action to Hold with a price target of $200
- Guggenheim downgraded its action to Neutral with a price target of $200
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 Prometheus Biosciences, Benzinga Pro gives you real-time options trades alerts.
20-Year Pro Trader Reveals His "MoneyLine"
Ditch your indicators and use the "MoneyLine". A simple line tells you when to buy and sell without the guesswork. It’s a line on a chart that’s helped Nic Chahine win 83% of his options buys. Here's how he does it.
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