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.
Investors with a lot of money to spend have taken a bullish stance on Coupang (NYSE:CPNG).
And retail traders should know.
We noticed this today when the trades showed up on publicly available options history that we track here at Benzinga.
Whether these are institutions or just wealthy individuals, we don't know. But when something this big happens with CPNG, it often means somebody knows something is about to happen.
So how do we know what these investors just did?
Today, Benzinga's options scanner spotted 10 uncommon options trades for Coupang.
This isn't normal.
The overall sentiment of these big-money traders is split between 50% bullish and 50%, bearish.
Out of all of the special options we uncovered, 3 are puts, for a total amount of $93,281, and 7 are calls, for a total amount of $314,520.
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 $15.0 to $17.5 for Coupang over the last 3 months.
Volume & Open Interest Development
In terms of liquidity and interest, the mean open interest for Coupang options trades today is 4210.8 with a total volume of 6,104.00.
In the following chart, we are able to follow the development of volume and open interest of call and put options for Coupang's big money trades within a strike price range of $15.0 to $17.5 over the last 30 days.
Coupang 30-Day Option Volume & Interest Snapshot
Biggest Options Spotted:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| CPNG | CALL | SWEEP | BEARISH | 01/19/24 | $17.50 | $67.5K | 13.2K | 141 |
| CPNG | CALL | SWEEP | BEARISH | 01/19/24 | $15.00 | $65.8K | 2.5K | 1.3K |
| CPNG | PUT | SWEEP | BEARISH | 05/17/24 | $15.00 | $58.7K | 5.2K | 3.9K |
| CPNG | CALL | SWEEP | BEARISH | 01/19/24 | $15.00 | $55.6K | 2.5K | 1.3K |
| CPNG | CALL | SWEEP | BULLISH | 01/19/24 | $15.00 | $37.0K | 2.5K | 2.2K |
About Coupang
Coupang Inc is an e-commerce company. The company sells apparel, electronics, footwear, food products, furniture, nutritional supplements, and other products. Its segments include Product Commerce and Developing Offerings. The company generates maximum revenue from the Product Commerce segment. Product Commerce primarily includes core retail (owned inventory) and marketplace offerings (third-party merchants) and Rocket Fresh, fresh grocery offering, as well as advertising products associated with these offerings.
Following our analysis of the options activities associated with Coupang, we pivot to a closer look at the company's own performance.
Current Position of Coupang
- Trading volume stands at 9,936,433, with CPNG's price down by -5.11%, positioned at $15.29.
- RSI indicators show the stock to be may be approaching oversold.
- Earnings announcement expected in 89 days.
Trading options involves greater risks but also offers the potential for higher profits. Savvy traders mitigate these risks through ongoing education, strategic trade adjustments, utilizing various indicators, and staying attuned to market dynamics. Keep up with the latest options trades for Coupang with Benzinga Pro for real-time 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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