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.
A whale with a lot of money to spend has taken a noticeably bullish stance on Silicon Motion Technology.
Looking at options history for Silicon Motion Technology (NASDAQ:SIMO) we detected 26 strange trades.
If we consider the specifics of each trade, it is accurate to state that 65% of the investors opened trades with bullish expectations and 34% with bearish.
From the overall spotted trades, 14 are puts, for a total amount of $738,826 and 12, calls, for a total amount of $802,522.
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 $45.0 to $90.0 for Silicon Motion Technology over the last 3 months.
Volume & Open Interest Development
In terms of liquidity and interest, the mean open interest for Silicon Motion Technology options trades today is 6115.38 with a total volume of 40,537.00.
In the following chart, we are able to follow the development of volume and open interest of call and put options for Silicon Motion Technology's big money trades within a strike price range of $45.0 to $90.0 over the last 30 days.
Silicon Motion Technology 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 |
|---|---|---|---|---|---|---|---|---|
| SIMO | CALL | TRADE | BULLISH | 08/18/23 | $65.00 | $122.5K | 3.7K | 962 |
| SIMO | PUT | SWEEP | BEARISH | 08/18/23 | $65.00 | $120.1K | 3.1K | 170 |
| SIMO | CALL | TRADE | BEARISH | 09/15/23 | $70.00 | $116.0K | 24.5K | 459 |
| SIMO | CALL | SWEEP | BULLISH | 12/15/23 | $55.00 | $112.7K | 171 | 101 |
| SIMO | CALL | TRADE | BULLISH | 08/18/23 | $65.00 | $82.5K | 3.7K | 1.7K |
Where Is Silicon Motion Technology Standing Right Now?
- With a volume of 3,675,408, the price of SIMO is up 13.31% at $59.5.
- RSI indicators hint that the underlying stock is currently neutral between overbought and oversold.
- Next earnings are expected to be released in 95 days.
What The Experts Say On Silicon Motion Technology:
- Wedbush has decided to maintain their Outperform rating on Silicon Motion Technology, which currently sits at a price target of $85.
- Wedbush downgraded its action to Outperform with a price target of $104
- Craig-Hallum has decided to maintain their Buy rating on Silicon Motion Technology, which currently sits at a price target of $106.
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 Silicon Motion Technology, 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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