27% profits every 20 days?
This is what Nic Chahine averages with his options 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.
A whale with a lot of money to spend has taken a noticeably bearish stance on Marathon Petroleum.
Looking at options history for Marathon Petroleum (NYSE:MPC) we detected 20 strange trades.
If we consider the specifics of each trade, it is accurate to state that 35% of the investors opened trades with bullish expectations and 65% with bearish.
From the overall spotted trades, 14 are puts, for a total amount of $1,017,598 and 6, calls, for a total amount of $316,565.
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 $100.0 to $135.0 for Marathon Petroleum over the last 3 months.
Volume & Open Interest Development
In terms of liquidity and interest, the mean open interest for Marathon Petroleum options trades today is 762.45 with a total volume of 6,285.00.
In the following chart, we are able to follow the development of volume and open interest of call and put options for Marathon Petroleum's big money trades within a strike price range of $100.0 to $135.0 over the last 30 days.
Marathon Petroleum 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 |
|---|---|---|---|---|---|---|---|---|
| MPC | PUT | TRADE | BEARISH | 06/02/23 | $121.00 | $232.5K | 0 | 1.0K |
| MPC | PUT | SWEEP | BULLISH | 06/16/23 | $130.00 | $168.9K | 1.0K | 307 |
| MPC | PUT | TRADE | BEARISH | 10/20/23 | $115.00 | $117.7K | 393 | 853 |
| MPC | PUT | TRADE | BEARISH | 10/20/23 | $115.00 | $117.7K | 393 | 703 |
| MPC | CALL | TRADE | BULLISH | 07/21/23 | $100.00 | $110.6K | 47 | 44 |
Where Is Marathon Petroleum Standing Right Now?
- With a volume of 3,107,730, the price of MPC is down -1.72% at $123.53.
- RSI indicators hint that the underlying stock is currently neutral between overbought and oversold.
- Next earnings are expected to be released in 11 days.
What The Experts Say On Marathon Petroleum:
- Barclays has decided to maintain their Overweight rating on Marathon Petroleum, which currently sits at a price target of $139.
- JP Morgan downgraded its action to Neutral with a price target of $149
- Goldman Sachs upgraded its action to Buy with a price target of $150
- Goldman Sachs has decided to maintain their Buy rating on Marathon Petroleum, which currently sits at a price target of $150.
- Wells Fargo downgraded its action to Equal-Weight with a price target of $135
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 Marathon Petroleum, Benzinga Pro gives you real-time options trades alerts.
27% profits every 20 days?
This is what Nic Chahine averages with his options 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.
ENTER TO WIN $500 IN STOCK OR CRYPTO
Enter your email and you'll also get Benzinga's ultimate morning update AND a free $30 gift card and more!