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 will search for circumstances when the market estimation of an option diverges heavily from its normal worth. High amounts of trading activity could push option prices to exaggerated or underestimated 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 | PUT | SWEEP | BULLISH | 10/27/23 | $205.00 | $28.4K | 14.2K | 100.0K |
| F | CALL | SWEEP | BEARISH | 11/17/23 | $12.00 | $36.9K | 44.0K | 6.5K |
| VRM | PUT | TRADE | NEUTRAL | 01/19/24 | $15.00 | $80.9K | 11 | 1.0K |
| DKNG | PUT | SWEEP | BULLISH | 12/15/23 | $25.00 | $51.4K | 2.5K | 318 |
| TOL | PUT | SWEEP | BEARISH | 12/15/23 | $65.00 | $25.0K | 1.1K | 258 |
| FL | CALL | TRADE | BULLISH | 01/17/25 | $35.00 | $25.9K | 639 | 157 |
| BKNG | CALL | SWEEP | BEARISH | 11/17/23 | $2830.00 | $298.6K | 7 | 137 |
| HELE | PUT | TRADE | BEARISH | 11/17/23 | $100.00 | $59.8K | 1.0K | 100 |
| ABNB | CALL | TRADE | BEARISH | 01/17/25 | $175.00 | $74.7K | 197 | 92 |
| CZR | PUT | TRADE | BEARISH | 01/17/25 | $38.00 | $42.9K | 255 | 60 |
Explanation
These itemized elaborations have been created using the accompanying table.
• For TSLA (NASDAQ:TSLA), we notice a put option sweep that happens to be bullish, expiring in 1 day(s) on October 27, 2023. This event was a transfer of 112 contract(s) at a $205.00 strike. This particular put needed to be split into 4 different trades to become filled. The total cost received by the writing party (or parties) was $28.4K, with a price of $253.0 per contract. There were 14234 open contracts at this strike prior to today, and today 100095 contract(s) were bought and sold.
• For F (NYSE:F), we notice a call option sweep that happens to be bearish, expiring in 22 day(s) on November 17, 2023. This event was a transfer of 1768 contract(s) at a $12.00 strike. This particular call needed to be split into 77 different trades to become filled. The total cost received by the writing party (or parties) was $36.9K, with a price of $21.0 per contract. There were 44053 open contracts at this strike prior to today, and today 6552 contract(s) were bought and sold.
• Regarding VRM (NASDAQ:VRM), we observe a put option trade with neutral sentiment. It expires in 85 day(s) on January 19, 2024. Parties traded 57 contract(s) at a $15.00 strike. The total cost received by the writing party (or parties) was $80.9K, with a price of $1420.0 per contract. There were 11 open contracts at this strike prior to today, and today 1046 contract(s) were bought and sold.
• Regarding DKNG (NASDAQ:DKNG), we observe a put option sweep with bullish sentiment. It expires in 50 day(s) on December 15, 2023. Parties traded 236 contract(s) at a $25.00 strike. This particular put needed to be split into 18 different trades to become filled. The total cost received by the writing party (or parties) was $51.4K, with a price of $218.0 per contract. There were 2532 open contracts at this strike prior to today, and today 318 contract(s) were bought and sold.
• Regarding TOL (NYSE:TOL), we observe a put option sweep with bearish sentiment. It expires in 50 day(s) on December 15, 2023. Parties traded 100 contract(s) at a $65.00 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 $25.0K, with a price of $250.0 per contract. There were 1108 open contracts at this strike prior to today, and today 258 contract(s) were bought and sold.
• Regarding FL (NYSE:FL), we observe a call option trade with bullish sentiment. It expires in 449 day(s) on January 17, 2025. Parties traded 157 contract(s) at a $35.00 strike. The total cost received by the writing party (or parties) was $25.9K, with a price of $165.0 per contract. There were 639 open contracts at this strike prior to today, and today 157 contract(s) were bought and sold.
• For BKNG (NASDAQ:BKNG), we notice a call option sweep that happens to be bearish, expiring in 22 day(s) on November 17, 2023. This event was a transfer of 37 contract(s) at a $2830.00 strike. This particular call needed to be split into 19 different trades to become filled. The total cost received by the writing party (or parties) was $298.6K, with a price of $8039.0 per contract. There were 7 open contracts at this strike prior to today, and today 137 contract(s) were bought and sold.
• Regarding HELE (NASDAQ:HELE), we observe a put option trade with bearish sentiment. It expires in 22 day(s) on November 17, 2023. Parties traded 120 contract(s) at a $100.00 strike. The total cost received by the writing party (or parties) was $59.8K, with a price of $499.0 per contract. There were 1063 open contracts at this strike prior to today, and today 100 contract(s) were bought and sold.
• For ABNB (NASDAQ:ABNB), we notice a call option trade that happens to be bearish, expiring in 449 day(s) on January 17, 2025. This event was a transfer of 90 contract(s) at a $175.00 strike. The total cost received by the writing party (or parties) was $74.7K, with a price of $830.0 per contract. There were 197 open contracts at this strike prior to today, and today 92 contract(s) were bought and sold.
• Regarding CZR (NASDAQ:CZR), we observe a put option trade with bearish sentiment. It expires in 449 day(s) on January 17, 2025. Parties traded 60 contract(s) at a $38.00 strike. The total cost received by the writing party (or parties) was $42.9K, with a price of $715.0 per contract. There were 255 open contracts at this strike prior to today, and today 60 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.
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