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.
Someone with a lot of money to spend has taken a bearish stance on ON Semiconductor (NASDAQ:ON).
And retail traders should know.
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!
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 ON, it often means somebody knows something is about to happen.
Today, Benzinga's options scanner spotted 11 options trades for ON Semiconductor.
This isn't normal.
The overall sentiment of these big-money traders is split between 27% bullish and 72%, bearish.
Out of all of the options we uncovered, there was 1 put, for a total amount of $64,400, and 10, calls, for a total amount of $481,129..
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 $80.0 to $85.0 for ON Semiconductor over the last 3 months.
Volume & Open Interest Development
FREE REPORT: How To Learn Options Trading Fast
In this special report, you will learn the four best strategies for trading options, how to stay safe as a complete beginner, a 411% trade case study, PLUS how to access two new potential winning options trades starting today.Claim Your Free Report Here.
Looking at the volume and open interest is an insightful way to conduct due diligence on a stock.
This data can help you track the liquidity and interest for ON Semiconductor'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 ON Semiconductor's whale activity within a strike price range from $80.0 to $85.0 in the last 30 days.
ON Semiconductor 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 |
|---|---|---|---|---|---|---|---|---|
| ON | CALL | SWEEP | BEARISH | 05/19/23 | $81.00 | $76.5K | 3.8K | 152 |
| ON | CALL | SWEEP | BULLISH | 05/19/23 | $81.00 | $76.5K | 3.8K | 602 |
| ON | PUT | SWEEP | BULLISH | 07/21/23 | $85.00 | $64.4K | 410 | 189 |
| ON | CALL | TRADE | NEUTRAL | 05/19/23 | $81.00 | $63.7K | 3.8K | 627 |
| ON | CALL | SWEEP | BEARISH | 05/19/23 | $81.00 | $50.1K | 3.8K | 1.4K |
Where Is ON Semiconductor Standing Right Now?
- With a volume of 4,897,720, the price of ON is up 0.62% at $86.16.
- RSI indicators hint that the underlying stock is currently neutral between overbought and oversold.
- Next earnings are expected to be released in 74 days.
What The Experts Say On ON Semiconductor:
- Stifel has decided to maintain their Hold rating on ON Semiconductor, which currently sits at a price target of $83.
- Needham downgraded its action to Strong Buy with a price target of $110
- Mizuho has decided to maintain their Buy rating on ON Semiconductor, which currently sits at a price target of $90.
- Mizuho has decided to maintain their Buy rating on ON Semiconductor, which currently sits at a price target of $93.
- B of A Securities has decided to maintain their Buy rating on ON Semiconductor, which currently sits at a price target of $110.
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 ON Semiconductor, Benzinga Pro gives you real-time options trades alerts.
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.