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.
Someone with a lot of money to spend has taken a bearish stance on Qualcomm (NASDAQ:QCOM).
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 QCOM, 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 23 uncommon options trades for Qualcomm.
This isn't normal.
The overall sentiment of these big-money traders is split between 43% bullish and 56%, bearish.
Out of all of the special options we uncovered, 3 are puts, for a total amount of $188,695, and 20 are calls, for a total amount of $1,361,335.
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 $95.0 to $135.0 for Qualcomm over the last 3 months.
Volume & Open Interest Development
In terms of liquidity and interest, the mean open interest for Qualcomm options trades today is 3324.21 with a total volume of 10,251.00.
In the following chart, we are able to follow the development of volume and open interest of call and put options for Qualcomm's big money trades within a strike price range of $95.0 to $135.0 over the last 30 days.
Qualcomm 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 |
|---|---|---|---|---|---|---|---|---|
| QCOM | CALL | TRADE | BULLISH | 03/15/24 | $95.00 | $387.2K | 20 | 200 |
| QCOM | CALL | TRADE | BULLISH | 10/20/23 | $100.00 | $123.0K | 505 | 100 |
| QCOM | PUT | SWEEP | BEARISH | 01/19/24 | $105.00 | $84.2K | 6.1K | 95 |
| QCOM | CALL | TRADE | BULLISH | 06/21/24 | $125.00 | $82.3K | 1.9K | 100 |
| QCOM | CALL | TRADE | BULLISH | 01/19/24 | $120.00 | $78.1K | 4.7K | 34 |
Where Is Qualcomm Standing Right Now?
- With a volume of 2,099,655, the price of QCOM is down -0.64% at $109.39.
- RSI indicators hint that the underlying stock may be oversold.
- Next earnings are expected to be released in 72 days.
What The Experts Say On Qualcomm:
- Susquehanna has decided to maintain their Positive rating on Qualcomm, which currently sits at a price target of $140.
- Morgan Stanley has decided to maintain their Overweight rating on Qualcomm, which currently sits at a price target of $129.
- Daiwa Capital downgraded its action to Outperform with a price target of $125
- Piper Sandler has decided to maintain their Overweight rating on Qualcomm, which currently sits at a price target of $140.
- Susquehanna has decided to maintain their Positive rating on Qualcomm, which currently sits at a price target of $145.
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 Qualcomm, 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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