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.
Investors with a lot of money to spend have taken a bullish stance on Illumina (NASDAQ:ILMN).
And retail traders should know.
We noticed this today when the positions 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 ILMN, it often means somebody knows something is about to happen.
Today, Benzinga's options scanner spotted 9 options trades for Illumina.
This isn't normal.
The overall sentiment of these big-money traders is split between 66% bullish and 33%, bearish.
Out of all of the options we uncovered, there was 1 put, for a total amount of $25,843, and 8, calls, for a total amount of $403,090.
Predicted Price Range
Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $80.0 to $150.0 for Illumina over the recent three months.
Volume & Open Interest Trends
Examining the volume and open interest provides crucial insights into stock research. This information is key in gauging liquidity and interest levels for Illumina's options at certain strike prices. Below, we present a snapshot of the trends in volume and open interest for calls and puts across Illumina's significant trades, within a strike price range of $80.0 to $150.0, over the past month.
Illumina 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 |
|---|---|---|---|---|---|---|---|---|
| ILMN | CALL | TRADE | BULLISH | 03/15/24 | $130.00 | $102.0K | 1.0K | 185 |
| ILMN | CALL | TRADE | NEUTRAL | 01/19/24 | $80.00 | $82.9K | 34 | 25 |
| ILMN | CALL | SWEEP | BULLISH | 03/15/24 | $130.00 | $52.7K | 1.0K | 65 |
| ILMN | CALL | TRADE | BULLISH | 06/21/24 | $125.00 | $44.5K | 46 | 0 |
| ILMN | CALL | TRADE | BULLISH | 06/21/24 | $100.00 | $36.0K | 110 | 15 |
About Illumina
Illumina provides tools and services to analyze genetic material with life science and clinical lab applications. The company generates about 90% of its revenue from sequencing instruments, consumables, and services. Illumina's high-throughput technology enables whole genome sequencing in humans and other large organisms. Its lower throughput tools enable applications that require smaller data outputs, such as viral and cancer tumor screening. Illumina also sells microarrays (about 10% of sales) that enable lower-cost, focused genetic screening with primarily consumer and agricultural applications.
In light of the recent options history for Illumina, it's now appropriate to focus on the company itself. We aim to explore its current performance.
Current Position of Illumina
- Currently trading with a volume of 1,754,456, the ILMN's price is up by 0.18%, now at $109.99.
- RSI readings suggest the stock is currently may be approaching overbought.
- Anticipated earnings release is in 64 days.
What Analysts Are Saying About Illumina
In the last month, 2 experts released ratings on this stock with an average target price of $155.0.
- In a cautious move, an analyst from Canaccord Genuity downgraded its rating to Hold, setting a price target of $120.
- An analyst from Piper Sandler persists with their Overweight rating on Illumina, maintaining a target price of $190.
Options trading presents higher risks and potential rewards. Astute traders manage these risks by continually educating themselves, adapting their strategies, monitoring multiple indicators, and keeping a close eye on market movements. Stay informed about the latest Illumina options trades with real-time alerts from Benzinga Pro.
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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