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.
Someone with a lot of money to spend has taken a bearish stance on Johnson & Johnson (NYSE:JNJ).
And retail traders should know.
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 JNJ, it often means somebody knows something is about to happen.
So how do we know what this whale just did?
Today, Benzinga's options scanner spotted 24 uncommon options trades for Johnson & Johnson.
This isn't normal.
The overall sentiment of these big-money traders is split between 29% bullish and 70%, bearish.
Out of all of the special options we uncovered, 10 are puts, for a total amount of $7,158,875, and 14 are calls, for a total amount of $627,376.
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 $155.0 to $210.0 for Johnson & Johnson over the last 3 months.
Volume & Open Interest Development
Looking at the volume and open interest is a powerful move while trading options. This data can help you track the liquidity and interest for Johnson & Johnson'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 Johnson & Johnson's whale trades within a strike price range from $155.0 to $210.0 in the last 30 days.
Johnson & Johnson 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 |
|---|---|---|---|---|---|---|---|---|
| JNJ | PUT | TRADE | BEARISH | 09/15/23 | $210.00 | $6.7M | 289.0K | 1.8K |
| JNJ | PUT | SWEEP | BEARISH | 09/15/23 | $210.00 | $185.0K | 289.0K | 55 |
| JNJ | CALL | TRADE | BULLISH | 01/19/24 | $160.00 | $120.4K | 2.6K | 69 |
| JNJ | CALL | TRADE | BULLISH | 01/19/24 | $155.00 | $99.2K | 3.7K | 46 |
| JNJ | CALL | SWEEP | BEARISH | 09/15/23 | $180.00 | $65.0K | 16.1K | 693 |
Where Is Johnson & Johnson Standing Right Now?
- With a volume of 33,672,715, the price of JNJ is up 0.03% at $173.24.
- RSI indicators hint that the underlying stock may be overbought.
- Next earnings are expected to be released in 69 days.
What The Experts Say On Johnson & Johnson:
- Barclays has decided to maintain their Equal-Weight rating on Johnson & Johnson, which currently sits at a price target of $175.
- Morgan Stanley downgraded its action to Equal-Weight with a price target of $187
- Morgan Stanley has decided to maintain their Equal-Weight rating on Johnson & Johnson, which currently sits at a price target of $187.
- Cantor Fitzgerald downgraded its action to Overweight with a price target of $215
- Cantor Fitzgerald downgraded its action to Overweight with a price target of $215
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 Johnson & Johnson, 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.
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