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.
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 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.
Below are some instances of options activity happening in the Industrials sector:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| NKLA | PUT | SWEEP | BULLISH | 08/18/23 | $1.00 | $30.1K | 81.2K | 45.7K |
| GE | CALL | TRADE | BEARISH | 08/18/23 | $115.00 | $185.0K | 761 | 1.2K |
| SPR | PUT | SWEEP | NEUTRAL | 01/17/25 | $27.00 | $161.0K | 143 | 621 |
| AZUL | PUT | SWEEP | BEARISH | 08/18/23 | $12.50 | $32.3K | 135 | 487 |
| DAL | PUT | SWEEP | BULLISH | 09/15/23 | $50.00 | $92.7K | 651 | 407 |
| B | PUT | TRADE | BULLISH | 08/18/23 | $40.00 | $39.0K | 0 | 400 |
| BA | PUT | TRADE | BEARISH | 01/17/25 | $200.00 | $41.8K | 1.9K | 345 |
| UPS | PUT | SWEEP | BULLISH | 07/14/23 | $180.00 | $46.2K | 76 | 307 |
| AAL | CALL | SWEEP | BULLISH | 08/18/23 | $15.00 | $36.0K | 21.8K | 223 |
| DE | CALL | TRADE | NEUTRAL | 09/15/23 | $410.00 | $36.3K | 388 | 52 |
Explanation
These itemized elaborations have been created using the accompanying table.
• For NKLA (NASDAQ:NKLA), we notice a put option sweep that happens to be bullish, expiring in 44 day(s) on August 18, 2023. This event was a transfer of 938 contract(s) at a $1.00 strike. This particular put needed to be split into 42 different trades to become filled. The total cost received by the writing party (or parties) was $30.1K, with a price of $32.0 per contract. There were 81285 open contracts at this strike prior to today, and today 45731 contract(s) were bought and sold.
• Regarding GE (NYSE:GE), we observe a call option trade with bearish sentiment. It expires in 44 day(s) on August 18, 2023. Parties traded 1250 contract(s) at a $115.00 strike. The total cost received by the writing party (or parties) was $185.0K, with a price of $148.0 per contract. There were 761 open contracts at this strike prior to today, and today 1269 contract(s) were bought and sold.
• Regarding SPR (NYSE:SPR), we observe a put option sweep with neutral sentiment. It expires in 562 day(s) on January 17, 2025. Parties traded 350 contract(s) at a $27.00 strike. This particular put needed to be split into 10 different trades to become filled. The total cost received by the writing party (or parties) was $161.0K, with a price of $460.0 per contract. There were 143 open contracts at this strike prior to today, and today 621 contract(s) were bought and sold.
• For AZUL (NYSE:AZUL), we notice a put option sweep that happens to be bearish, expiring in 44 day(s) on August 18, 2023. This event was a transfer of 294 contract(s) at a $12.50 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 $32.3K, with a price of $110.0 per contract. There were 135 open contracts at this strike prior to today, and today 487 contract(s) were bought and sold.
• Regarding DAL (NYSE:DAL), we observe a put option sweep with bullish sentiment. It expires in 72 day(s) on September 15, 2023. Parties traded 299 contract(s) at a $50.00 strike. This particular put needed to be split into 12 different trades to become filled. The total cost received by the writing party (or parties) was $92.7K, with a price of $310.0 per contract. There were 651 open contracts at this strike prior to today, and today 407 contract(s) were bought and sold.
• Regarding B (NYSE:B), we observe a put option trade with bullish sentiment. It expires in 44 day(s) on August 18, 2023. Parties traded 325 contract(s) at a $40.00 strike. The total cost received by the writing party (or parties) was $39.0K, with a price of $120.0 per contract. There were 0 open contracts at this strike prior to today, and today 400 contract(s) were bought and sold.
• For BA (NYSE:BA), we notice a put option trade that happens to be bearish, expiring in 562 day(s) on January 17, 2025. This event was a transfer of 21 contract(s) at a $200.00 strike. The total cost received by the writing party (or parties) was $41.8K, with a price of $1995.0 per contract. There were 1905 open contracts at this strike prior to today, and today 345 contract(s) were bought and sold.
• For UPS (NYSE:UPS), we notice a put option sweep that happens to be bullish, expiring in 9 day(s) on July 14, 2023. This event was a transfer of 197 contract(s) at a $180.00 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 $46.2K, with a price of $235.0 per contract. There were 76 open contracts at this strike prior to today, and today 307 contract(s) were bought and sold.
• For AAL (NASDAQ:AAL), we notice a call option sweep that happens to be bullish, expiring in 44 day(s) on August 18, 2023. This event was a transfer of 100 contract(s) at a $15.00 strike. This particular call needed to be split into 8 different trades to become filled. The total cost received by the writing party (or parties) was $36.0K, with a price of $360.0 per contract. There were 21861 open contracts at this strike prior to today, and today 223 contract(s) were bought and sold.
• For DE (NYSE:DE), we notice a call option trade that happens to be neutral, expiring in 72 day(s) on September 15, 2023. This event was a transfer of 20 contract(s) at a $410.00 strike. The total cost received by the writing party (or parties) was $36.3K, with a price of $1815.0 per contract. There were 388 open contracts at this strike prior to today, and today 52 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% 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.
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