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 Financials sector:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| C | CALL | TRADE | BEARISH | 12/15/23 | $46.00 | $222.6K | 28.9K | 16.6K |
| SOFI | CALL | SWEEP | BEARISH | 03/15/24 | $10.00 | $99.2K | 10.4K | 3.6K |
| HOOD | CALL | SWEEP | BULLISH | 01/16/26 | $12.00 | $74.7K | 1.4K | 3.3K |
| SQ | CALL | SWEEP | BULLISH | 01/19/24 | $65.00 | $102.3K | 8.7K | 1.9K |
| COIN | CALL | SWEEP | BEARISH | 12/15/23 | $150.00 | $63.6K | 4.3K | 1.7K |
| BAC | CALL | SWEEP | BEARISH | 03/15/24 | $33.00 | $43.2K | 20.1K | 1.6K |
| BXMT | CALL | SWEEP | BEARISH | 01/19/24 | $23.00 | $47.5K | 4.9K | 1.4K |
| JPM | CALL | SWEEP | BULLISH | 01/17/25 | $170.00 | $45.9K | 2.1K | 175 |
| BX | PUT | SWEEP | BEARISH | 06/21/24 | $115.00 | $83.2K | 200 | 91 |
| AFRM | CALL | SWEEP | BULLISH | 01/17/25 | $37.50 | $72.6K | 732 | 72 |
Explanation
These itemized elaborations have been created using the accompanying table.
• Regarding C (NYSE:C), we observe a call option trade with bearish sentiment. It expires in 9 day(s) on December 15, 2023. Parties traded 863 contract(s) at a $46.00 strike. The total cost received by the writing party (or parties) was $222.6K, with a price of $258.0 per contract. There were 28977 open contracts at this strike prior to today, and today 16691 contract(s) were bought and sold.
• For SOFI (NASDAQ:SOFI), we notice a call option sweep that happens to be bearish, expiring in 100 day(s) on March 15, 2024. This event was a transfer of 1396 contract(s) at a $10.00 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 $99.2K, with a price of $71.0 per contract. There were 10412 open contracts at this strike prior to today, and today 3611 contract(s) were bought and sold.
• Regarding HOOD (NASDAQ:HOOD), we observe a call option sweep with bullish sentiment. It expires in 772 day(s) on January 16, 2026. Parties traded 202 contract(s) at a $12.00 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 $74.7K, with a price of $370.0 per contract. There were 1434 open contracts at this strike prior to today, and today 3365 contract(s) were bought and sold.
• Regarding SQ (NYSE:SQ), we observe a call option sweep with bullish sentiment. It expires in 44 day(s) on January 19, 2024. Parties traded 155 contract(s) at a $65.00 strike. This particular call needed to be split into 5 different trades to become filled. The total cost received by the writing party (or parties) was $102.3K, with a price of $660.0 per contract. There were 8732 open contracts at this strike prior to today, and today 1976 contract(s) were bought and sold.
• For COIN (NASDAQ:COIN), we notice a call option sweep that happens to be bearish, expiring in 9 day(s) on December 15, 2023. This event was a transfer of 159 contract(s) at a $150.00 strike. This particular call needed to be split into 3 different trades to become filled. The total cost received by the writing party (or parties) was $63.6K, with a price of $400.0 per contract. There were 4356 open contracts at this strike prior to today, and today 1772 contract(s) were bought and sold.
• For BAC (NYSE:BAC), we notice a call option sweep that happens to be bearish, expiring in 100 day(s) on March 15, 2024. This event was a transfer of 527 contract(s) at a $33.00 strike. This particular call needed to be split into 5 different trades to become filled. The total cost received by the writing party (or parties) was $43.2K, with a price of $82.0 per contract. There were 20195 open contracts at this strike prior to today, and today 1674 contract(s) were bought and sold.
• For BXMT (NYSE:BXMT), we notice a call option sweep that happens to be bearish, expiring in 44 day(s) on January 19, 2024. This event was a transfer of 1189 contract(s) at a $23.00 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 $47.5K, with a price of $40.0 per contract. There were 4980 open contracts at this strike prior to today, and today 1457 contract(s) were bought and sold.
• For JPM (NYSE:JPM), we notice a call option sweep that happens to be bullish, expiring in 408 day(s) on January 17, 2025. This event was a transfer of 44 contract(s) at a $170.00 strike. This particular call needed to be split into 17 different trades to become filled. The total cost received by the writing party (or parties) was $45.9K, with a price of $1045.0 per contract. There were 2109 open contracts at this strike prior to today, and today 175 contract(s) were bought and sold.
• Regarding BX (NYSE:BX), we observe a put option sweep with bearish sentiment. It expires in 198 day(s) on June 21, 2024. Parties traded 90 contract(s) at a $115.00 strike. This particular put needed to be split into 11 different trades to become filled. The total cost received by the writing party (or parties) was $83.2K, with a price of $925.0 per contract. There were 200 open contracts at this strike prior to today, and today 91 contract(s) were bought and sold.
• For AFRM (NASDAQ:AFRM), we notice a call option sweep that happens to be bullish, expiring in 408 day(s) on January 17, 2025. This event was a transfer of 45 contract(s) at a $37.50 strike. This particular call needed to be split into 13 different trades to become filled. The total cost received by the writing party (or parties) was $72.6K, with a price of $1615.0 per contract. There were 732 open contracts at this strike prior to today, and today 72 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 about 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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