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 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 $257,469, and 7 are calls, for a total amount of $234,620.
Expected Price Movements
Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $15.0 to $20.0 for Coupang during the past quarter.
Analyzing Volume & Open Interest
In today's trading context, the average open interest for options of Coupang stands at 3918.6, with a total volume reaching 5,183.00. The accompanying chart delineates the progression of both call and put option volume and open interest for high-value trades in Coupang, situated within the strike price corridor from $15.0 to $20.0, throughout the last 30 days.
Coupang Option Volume And Open Interest Over Last 30 Days
Noteworthy Options Activity:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| CPNG | PUT | SWEEP | BEARISH | 01/19/24 | $17.00 | $185.9K | 0 | 1.8K |
| CPNG | CALL | SWEEP | BEARISH | 02/16/24 | $17.50 | $53.0K | 6.0K | 883 |
| CPNG | PUT | SWEEP | BULLISH | 08/16/24 | $20.00 | $37.8K | 0 | 0 |
| CPNG | PUT | SWEEP | BEARISH | 01/19/24 | $16.00 | $33.6K | 0 | 817 |
| CPNG | CALL | SWEEP | BULLISH | 06/21/24 | $15.00 | $31.0K | 1.7K | 171 |
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.
In light of the recent options history for Coupang, it's now appropriate to focus on the company itself. We aim to explore its current performance.
Present Market Standing of Coupang
- With a trading volume of 10,568,695, the price of CPNG is down by -3.0%, reaching $16.51.
- Current RSI values indicate that the stock is is currently neutral between overbought and oversold.
- Next earnings report is scheduled for 71 days from now.
Options are a riskier asset compared to just trading the stock, but they have higher profit potential. Serious options traders manage this risk by educating themselves daily, scaling in and out of trades, following more than one indicator, and following the markets closely.
If you want to stay updated on the latest options trades for Coupang, Benzinga Pro gives you real-time options trades alerts.
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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