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.
Traders often look for circumstances when the market estimation of an option diverges away from its normal worth. Abnormal amounts of trading activity could push option prices to hyperbolic or underperforming levels.
Below are some instances of options activity happening in the Communication Services sector:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| GOOGL | CALL | SWEEP | BULLISH | 06/09/23 | $127.00 | $29.3K | 10.1K | 32.1K |
| LUMN | PUT | SWEEP | BEARISH | 01/19/24 | $1.50 | $28.0K | 708 | 8.2K |
| VZ | PUT | TRADE | BEARISH | 01/19/24 | $31.00 | $694.9K | 728 | 5.0K |
| META | PUT | TRADE | BEARISH | 06/16/23 | $275.00 | $29.3K | 1.1K | 2.9K |
| NFLX | PUT | SWEEP | NEUTRAL | 06/09/23 | $400.00 | $25.8K | 1.8K | 2.6K |
| GOOG | CALL | SWEEP | BEARISH | 07/21/23 | $140.00 | $51.0K | 5.6K | 1.1K |
| DIS | CALL | SWEEP | BEARISH | 01/19/24 | $100.00 | $102.4K | 10.7K | 1.1K |
| IHRT | CALL | SWEEP | BULLISH | 01/19/24 | $2.50 | $31.3K | 5.2K | 1.0K |
| WB | PUT | SWEEP | BEARISH | 07/21/23 | $15.00 | $42.5K | 14.3K | 375 |
| PINS | CALL | SWEEP | BULLISH | 11/17/23 | $20.00 | $74.3K | 35 | 118 |
Explanation
These itemized elaborations have been created using the accompanying table.
• Regarding GOOGL (NASDAQ:GOOGL), we observe a call option sweep with bullish sentiment. It expires in 3 day(s) on June 9, 2023. Parties traded 176 contract(s) at a $127.00 strike. This particular call needed to be split into 5 different trades to become filled. The total cost received by the writing party (or parties) was $29.3K, with a price of $167.0 per contract. There were 10141 open contracts at this strike prior to today, and today 32196 contract(s) were bought and sold.
• For LUMN (NYSE:LUMN), we notice a put option sweep that happens to be bearish, expiring in 227 day(s) on January 19, 2024. This event was a transfer of 878 contract(s) at a $1.50 strike. This particular put needed to be split into 39 different trades to become filled. The total cost received by the writing party (or parties) was $28.0K, with a price of $32.0 per contract. There were 708 open contracts at this strike prior to today, and today 8238 contract(s) were bought and sold.
• For VZ (NYSE:VZ), we notice a put option trade that happens to be bearish, expiring in 227 day(s) on January 19, 2024. This event was a transfer of 5000 contract(s) at a $31.00 strike. The total cost received by the writing party (or parties) was $694.9K, with a price of $139.0 per contract. There were 728 open contracts at this strike prior to today, and today 5000 contract(s) were bought and sold.
• Regarding META (NASDAQ:META), we observe a put option trade with bearish sentiment. It expires in 10 day(s) on June 16, 2023. Parties traded 50 contract(s) at a $275.00 strike. The total cost received by the writing party (or parties) was $29.3K, with a price of $586.0 per contract. There were 1133 open contracts at this strike prior to today, and today 2976 contract(s) were bought and sold.
• For NFLX (NASDAQ:NFLX), we notice a put option sweep that happens to be neutral, expiring in 3 day(s) on June 9, 2023. This event was a transfer of 40 contract(s) at a $400.00 strike. This particular put needed to be split into 4 different trades to become filled. The total cost received by the writing party (or parties) was $25.8K, with a price of $649.0 per contract. There were 1893 open contracts at this strike prior to today, and today 2689 contract(s) were bought and sold.
• Regarding GOOG (NASDAQ:GOOG), we observe a call option sweep with bearish sentiment. It expires in 45 day(s) on July 21, 2023. Parties traded 500 contract(s) at a $140.00 strike. This particular call needed to be split into 6 different trades to become filled. The total cost received by the writing party (or parties) was $51.0K, with a price of $102.0 per contract. There were 5680 open contracts at this strike prior to today, and today 1182 contract(s) were bought and sold.
• For DIS (NYSE:DIS), we notice a call option sweep that happens to be bearish, expiring in 227 day(s) on January 19, 2024. This event was a transfer of 172 contract(s) at a $100.00 strike. This particular call needed to be split into 18 different trades to become filled. The total cost received by the writing party (or parties) was $102.4K, with a price of $598.0 per contract. There were 10795 open contracts at this strike prior to today, and today 1120 contract(s) were bought and sold.
• Regarding IHRT (NASDAQ:IHRT), we observe a call option sweep with bullish sentiment. It expires in 227 day(s) on January 19, 2024. Parties traded 196 contract(s) at a $2.50 strike. This particular call needed to be split into 7 different trades to become filled. The total cost received by the writing party (or parties) was $31.3K, with a price of $160.0 per contract. There were 5243 open contracts at this strike prior to today, and today 1000 contract(s) were bought and sold.
• Regarding WB (NASDAQ:WB), we observe a put option sweep with bearish sentiment. It expires in 45 day(s) on July 21, 2023. Parties traded 375 contract(s) at a $15.00 strike. This particular put needed to be split into 5 different trades to become filled. The total cost received by the writing party (or parties) was $42.5K, with a price of $114.0 per contract. There were 14365 open contracts at this strike prior to today, and today 375 contract(s) were bought and sold.
• For PINS (NYSE:PINS), we notice a call option sweep that happens to be bullish, expiring in 164 day(s) on November 17, 2023. This event was a transfer of 118 contract(s) at a $20.00 strike. This particular call needed to be split into 7 different trades to become filled. The total cost received by the writing party (or parties) was $74.3K, with a price of $630.0 per contract. There were 35 open contracts at this strike prior to today, and today 118 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.
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