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 39 uncommon options trades for Johnson & Johnson.
This isn't normal.
The overall sentiment of these big-money traders is split between 33% bullish and 66%, bearish.
Out of all of the special options we uncovered, 11 are puts, for a total amount of $3,699,976, and 28 are calls, for a total amount of $1,070,567.
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 $135.0 to $210.0 for Johnson & Johnson over the last 3 months.
Volume & Open Interest Development
In terms of liquidity and interest, the mean open interest for Johnson & Johnson options trades today is 90866.56 with a total volume of 22,721.00.
In the following chart, we are able to follow the development of volume and open interest of call and put options for Johnson & Johnson's big money trades within a strike price range of $135.0 to $210.0 over 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 | NEUTRAL | 09/15/23 | $210.00 | $2.2M | 729.6K | 500 |
| JNJ | PUT | SWEEP | BULLISH | 09/15/23 | $170.00 | $647.4K | 29.0K | 65 |
| JNJ | PUT | SWEEP | BEARISH | 09/15/23 | $200.00 | $347.5K | 17.7K | 100 |
| JNJ | PUT | TRADE | NEUTRAL | 10/20/23 | $165.00 | $106.5K | 10.4K | 0 |
| JNJ | PUT | TRADE | BEARISH | 09/15/23 | $155.00 | $92.5K | 17.7K | 13 |
Where Is Johnson & Johnson Standing Right Now?
- With a volume of 31,292,768, the price of JNJ is down -0.8% at $164.7.
- RSI indicators hint that the underlying stock may be approaching oversold.
- Next earnings are expected to be released in 55 days.
What The Experts Say On Johnson & Johnson:
- Cantor Fitzgerald downgraded its action to Overweight with a price target of $215
- Atlantic Equities has decided to maintain their Neutral rating on Johnson & Johnson, which currently sits at a price target of $170.
- Barclays has decided to maintain their Equal-Weight rating on Johnson & Johnson, which currently sits at a price target of $175.
- 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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