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 often look for circumstances when the market estimation of an option diverges away from its normal worth. Abnormal amounts of trading activity could push option prices to hyperbolic or underperforming levels.
Below are some instances of options activity happening in the Consumer Discretionary sector:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| TSLA | CALL | SWEEP | BULLISH | 09/08/23 | $250.00 | $30.1K | 15.2K | 174.2K |
| FTCH | PUT | TRADE | NEUTRAL | 06/21/24 | $2.00 | $84.0K | 212.8K | 3.0K |
| LI | CALL | TRADE | BULLISH | 06/21/24 | $30.00 | $1.2 million | 10.0K | 2.0K |
| DKNG | PUT | SWEEP | BULLISH | 01/17/25 | $17.50 | $65.5K | 3.8K | 1.1K |
| LOW | CALL | SWEEP | BEARISH | 10/20/23 | $230.00 | $26.4K | 2.8K | 783 |
| UA | CALL | TRADE | BULLISH | 01/19/24 | $5.00 | $34.2K | 603 | 780 |
| DHI | CALL | TRADE | BULLISH | 09/15/23 | $110.00 | $38.0K | 519 | 310 |
| CZR | PUT | SWEEP | BULLISH | 03/15/24 | $65.00 | $105.3K | 6 | 81 |
| RH | PUT | SWEEP | NEUTRAL | 06/21/24 | $310.00 | $47.6K | 19 | 45 |
| CMG | PUT | TRADE | NEUTRAL | 09/15/23 | $2220.00 | $26.6K | 0 | 20 |
Explanation
These bullet-by-bullet explanations have been constructed using the accompanying table.
• Regarding TSLA (NASDAQ:TSLA), we observe a call option sweep with bullish sentiment. It expires in 1 day(s) on September 8, 2023. Parties traded 86 contract(s) at a $250.00 strike. This particular call needed to be split into 7 different trades to become filled. The total cost received by the writing party (or parties) was $30.1K, with a price of $354.0 per contract. There were 15220 open contracts at this strike prior to today, and today 174226 contract(s) were bought and sold.
• For FTCH (NYSE:FTCH), we notice a put option trade that happens to be neutral, expiring in 288 day(s) on June 21, 2024. This event was a transfer of 3000 contract(s) at a $2.00 strike. The total cost received by the writing party (or parties) was $84.0K, with a price of $28.0 per contract. There were 212875 open contracts at this strike prior to today, and today 3018 contract(s) were bought and sold.
• Regarding LI (NASDAQ:LI), we observe a call option trade with bullish sentiment. It expires in 288 day(s) on June 21, 2024. Parties traded 1000 contract(s) at a $30.00 strike. The total cost received by the writing party (or parties) was $1.2 million, with a price of $1280.0 per contract. There were 10068 open contracts at this strike prior to today, and today 2000 contract(s) were bought and sold.
• For DKNG (NASDAQ:DKNG), we notice a put option sweep that happens to be bullish, expiring in 498 day(s) on January 17, 2025. This event was a transfer of 362 contract(s) at a $17.50 strike. This particular put needed to be split into 16 different trades to become filled. The total cost received by the writing party (or parties) was $65.5K, with a price of $181.0 per contract. There were 3876 open contracts at this strike prior to today, and today 1172 contract(s) were bought and sold.
• Regarding LOW (NYSE:LOW), we observe a call option sweep with bearish sentiment. It expires in 43 day(s) on October 20, 2023. Parties traded 29 contract(s) at a $230.00 strike. This particular call needed to be split into 21 different trades to become filled. The total cost received by the writing party (or parties) was $26.4K, with a price of $910.0 per contract. There were 2878 open contracts at this strike prior to today, and today 783 contract(s) were bought and sold.
• Regarding UA (NYSE:UA), we observe a call option trade with bullish sentiment. It expires in 134 day(s) on January 19, 2024. Parties traded 180 contract(s) at a $5.00 strike. The total cost received by the writing party (or parties) was $34.2K, with a price of $190.0 per contract. There were 603 open contracts at this strike prior to today, and today 780 contract(s) were bought and sold.
• Regarding DHI (NYSE:DHI), we observe a call option trade with bullish sentiment. It expires in 8 day(s) on September 15, 2023. Parties traded 50 contract(s) at a $110.00 strike. The total cost received by the writing party (or parties) was $38.0K, with a price of $760.0 per contract. There were 519 open contracts at this strike prior to today, and today 310 contract(s) were bought and sold.
• Regarding CZR (NASDAQ:CZR), we observe a put option sweep with bullish sentiment. It expires in 190 day(s) on March 15, 2024. Parties traded 81 contract(s) at a $65.00 strike. This particular put needed to be split into 3 different trades to become filled. The total cost received by the writing party (or parties) was $105.3K, with a price of $1300.0 per contract. There were 6 open contracts at this strike prior to today, and today 81 contract(s) were bought and sold.
• Regarding RH (NYSE:RH), we observe a put option sweep with neutral sentiment. It expires in 288 day(s) on June 21, 2024. Parties traded 17 contract(s) at a $310.00 strike. This particular put needed to be split into 6 different trades to become filled. The total cost received by the writing party (or parties) was $47.6K, with a price of $2800.0 per contract. There were 19 open contracts at this strike prior to today, and today 45 contract(s) were bought and sold.
• Regarding CMG (NYSE:CMG), we observe a put option trade with neutral sentiment. It expires in 8 day(s) on September 15, 2023. Parties traded 1 contract(s) at a $2220.00 strike. The total cost received by the writing party (or parties) was $26.6K, with a price of $26664.0 per contract. There were 0 open contracts at this strike prior to today, and today 20 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.
ENTER TO WIN $500 IN STOCK OR CRYPTO
Enter your email and you'll also get Benzinga's ultimate morning update AND a free $30 gift card and more!