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.
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 Health Care sector:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| AZN | PUT | SWEEP | BULLISH | 10/27/23 | $65.00 | $77.9K | 3.6K | 2.0K |
| ELAN | CALL | SWEEP | BULLISH | 01/19/24 | $11.00 | $34.3K | 2.1K | 2.0K |
| ABT | CALL | TRADE | BULLISH | 02/16/24 | $105.00 | $201.8K | 9.5K | 931 |
| DXCM | CALL | SWEEP | BEARISH | 11/17/23 | $85.00 | $220.5K | 4.2K | 420 |
| DOCS | PUT | SWEEP | BULLISH | 01/19/24 | $22.50 | $54.6K | 1.5K | 339 |
| JNJ | PUT | SWEEP | NEUTRAL | 01/17/25 | $160.00 | $36.5K | 1.7K | 241 |
| GEHC | CALL | TRADE | NEUTRAL | 04/19/24 | $50.00 | $33.4K | 179 | 180 |
| A | PUT | TRADE | NEUTRAL | 11/17/23 | $120.00 | $35.4K | 521 | 66 |
| INSP | PUT | TRADE | BEARISH | 05/17/24 | $120.00 | $43.7K | 52 | 35 |
| BIIB | CALL | TRADE | BEARISH | 11/17/23 | $240.00 | $56.9K | 6 | 30 |
Explanation
These itemized elaborations have been created using the accompanying table.
• For AZN (NASDAQ:AZN), we notice a put option sweep that happens to be bullish, expiring in 4 day(s) on October 27, 2023. This event was a transfer of 384 contract(s) at a $65.00 strike. This particular put needed to be split into 41 different trades to become filled. The total cost received by the writing party (or parties) was $77.9K, with a price of $203.0 per contract. There were 3689 open contracts at this strike prior to today, and today 2005 contract(s) were bought and sold.
• For ELAN (NYSE:ELAN), we notice a call option sweep that happens to be bullish, expiring in 88 day(s) on January 19, 2024. This event was a transfer of 980 contract(s) at a $11.00 strike. This particular call needed to be split into 8 different trades to become filled. The total cost received by the writing party (or parties) was $34.3K, with a price of $35.0 per contract. There were 2106 open contracts at this strike prior to today, and today 2003 contract(s) were bought and sold.
• Regarding ABT (NYSE:ABT), we observe a call option trade with bullish sentiment. It expires in 116 day(s) on February 16, 2024. Parties traded 905 contract(s) at a $105.00 strike. The total cost received by the writing party (or parties) was $201.8K, with a price of $223.0 per contract. There were 9542 open contracts at this strike prior to today, and today 931 contract(s) were bought and sold.
• Regarding DXCM (NASDAQ:DXCM), we observe a call option sweep with bearish sentiment. It expires in 25 day(s) on November 17, 2023. Parties traded 294 contract(s) at a $85.00 strike. This particular call needed to be split into 25 different trades to become filled. The total cost received by the writing party (or parties) was $220.5K, with a price of $750.0 per contract. There were 4205 open contracts at this strike prior to today, and today 420 contract(s) were bought and sold.
• Regarding DOCS (NYSE:DOCS), we observe a put option sweep with bullish sentiment. It expires in 88 day(s) on January 19, 2024. Parties traded 243 contract(s) at a $22.50 strike. This particular put needed to be split into 7 different trades to become filled. The total cost received by the writing party (or parties) was $54.6K, with a price of $225.0 per contract. There were 1588 open contracts at this strike prior to today, and today 339 contract(s) were bought and sold.
• For JNJ (NYSE:JNJ), we notice a put option sweep that happens to be neutral, expiring in 452 day(s) on January 17, 2025. This event was a transfer of 24 contract(s) at a $160.00 strike. This particular put needed to be split into 9 different trades to become filled. The total cost received by the writing party (or parties) was $36.5K, with a price of $1523.0 per contract. There were 1712 open contracts at this strike prior to today, and today 241 contract(s) were bought and sold.
• For GEHC (NASDAQ:GEHC), we notice a call option trade that happens to be neutral, expiring in 179 day(s) on April 19, 2024. This event was a transfer of 20 contract(s) at a $50.00 strike. The total cost received by the writing party (or parties) was $33.4K, with a price of $1670.0 per contract. There were 179 open contracts at this strike prior to today, and today 180 contract(s) were bought and sold.
• For A (NYSE:A), we notice a put option trade that happens to be neutral, expiring in 25 day(s) on November 17, 2023. This event was a transfer of 33 contract(s) at a $120.00 strike. The total cost received by the writing party (or parties) was $35.4K, with a price of $1073.0 per contract. There were 521 open contracts at this strike prior to today, and today 66 contract(s) were bought and sold.
• Regarding INSP (NYSE:INSP), we observe a put option trade with bearish sentiment. It expires in 207 day(s) on May 17, 2024. Parties traded 35 contract(s) at a $120.00 strike. The total cost received by the writing party (or parties) was $43.7K, with a price of $1250.0 per contract. There were 52 open contracts at this strike prior to today, and today 35 contract(s) were bought and sold.
• For BIIB (NASDAQ:BIIB), we notice a call option trade that happens to be bearish, expiring in 25 day(s) on November 17, 2023. This event was a transfer of 30 contract(s) at a $240.00 strike. The total cost received by the writing party (or parties) was $56.9K, with a price of $1899.0 per contract. There were 6 open contracts at this strike prior to today, and today 30 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.
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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