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 often look for circumstances when the market estimation of an option diverges away from its normal worth. Abnormal amounts of trading activity could push option prices to hyperbolic or underperforming levels.
Below are some instances of options activity happening in the Information Technology sector:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| AMD | CALL | SWEEP | BEARISH | 01/19/24 | $160.00 | $32.8K | 25.5K | 83.0K |
| NVDA | PUT | SWEEP | BEARISH | 01/19/24 | $550.00 | $38.7K | 12.7K | 35.3K |
| MSFT | CALL | TRADE | BULLISH | 02/16/24 | $400.00 | $38.5K | 28.5K | 22.0K |
| PLTR | PUT | TRADE | BEARISH | 09/20/24 | $13.00 | $33.5K | 1.2K | 3.8K |
| DDOG | CALL | TRADE | BULLISH | 01/19/24 | $125.00 | $32.8K | 7.0K | 2.3K |
| APP | CALL | SWEEP | BULLISH | 01/19/24 | $42.50 | $28.5K | 6.6K | 870 |
| QCOM | CALL | SWEEP | BEARISH | 01/26/24 | $139.00 | $30.4K | 216 | 552 |
| SMCI | PUT | TRADE | NEUTRAL | 06/21/24 | $185.00 | $62.2K | 117 | 541 |
| ZM | PUT | TRADE | BULLISH | 05/17/24 | $70.00 | $67.8K | 979 | 535 |
| MU | CALL | SWEEP | BULLISH | 04/19/24 | $100.00 | $56.1K | 6.1K | 513 |
Explanation
These bullet-by-bullet explanations have been constructed using the accompanying table.
• Regarding AMD (NASDAQ:AMD), we observe a call option sweep with bearish sentiment. It expires in 2 day(s) on January 19, 2024. Parties traded 200 contract(s) at a $160.00 strike. This particular call needed to be split into 8 different trades to become filled. The total cost received by the writing party (or parties) was $32.8K, with a price of $164.0 per contract. There were 25585 open contracts at this strike prior to today, and today 83085 contract(s) were bought and sold.
• For NVDA (NASDAQ:NVDA), we notice a put option sweep that happens to be bearish, expiring in 2 day(s) on January 19, 2024. This event was a transfer of 100 contract(s) at a $550.00 strike. This particular put needed to be split into 5 different trades to become filled. The total cost received by the writing party (or parties) was $38.7K, with a price of $388.0 per contract. There were 12781 open contracts at this strike prior to today, and today 35357 contract(s) were bought and sold.
• For MSFT (NASDAQ:MSFT), we notice a call option trade that happens to be bullish, expiring in 30 day(s) on February 16, 2024. This event was a transfer of 50 contract(s) at a $400.00 strike. The total cost received by the writing party (or parties) was $38.5K, with a price of $771.0 per contract. There were 28513 open contracts at this strike prior to today, and today 22054 contract(s) were bought and sold.
• For PLTR (NYSE:PLTR), we notice a put option trade that happens to be bearish, expiring in 247 day(s) on September 20, 2024. This event was a transfer of 250 contract(s) at a $13.00 strike. The total cost received by the writing party (or parties) was $33.5K, with a price of $134.0 per contract. There were 1291 open contracts at this strike prior to today, and today 3804 contract(s) were bought and sold.
• For DDOG (NASDAQ:DDOG), we notice a call option trade that happens to be bullish, expiring in 2 day(s) on January 19, 2024. This event was a transfer of 173 contract(s) at a $125.00 strike. The total cost received by the writing party (or parties) was $32.8K, with a price of $190.0 per contract. There were 7003 open contracts at this strike prior to today, and today 2378 contract(s) were bought and sold.
• For APP (NASDAQ:APP), we notice a call option sweep that happens to be bullish, expiring in 2 day(s) on January 19, 2024. This event was a transfer of 815 contract(s) at a $42.50 strike. This particular call needed to be split into 43 different trades to become filled. The total cost received by the writing party (or parties) was $28.5K, with a price of $35.0 per contract. There were 6649 open contracts at this strike prior to today, and today 870 contract(s) were bought and sold.
• Regarding QCOM (NASDAQ:QCOM), we observe a call option sweep with bearish sentiment. It expires in 9 day(s) on January 26, 2024. Parties traded 150 contract(s) at a $139.00 strike. This particular call needed to be split into 24 different trades to become filled. The total cost received by the writing party (or parties) was $30.4K, with a price of $203.0 per contract. There were 216 open contracts at this strike prior to today, and today 552 contract(s) were bought and sold.
• For SMCI (NASDAQ:SMCI), we notice a put option trade that happens to be neutral, expiring in 156 day(s) on June 21, 2024. This event was a transfer of 102 contract(s) at a $185.00 strike. The total cost received by the writing party (or parties) was $62.2K, with a price of $610.0 per contract. There were 117 open contracts at this strike prior to today, and today 541 contract(s) were bought and sold.
• For ZM (NASDAQ:ZM), we notice a put option trade that happens to be bullish, expiring in 121 day(s) on May 17, 2024. This event was a transfer of 102 contract(s) at a $70.00 strike. The total cost received by the writing party (or parties) was $67.8K, with a price of $665.0 per contract. There were 979 open contracts at this strike prior to today, and today 535 contract(s) were bought and sold.
• For MU (NASDAQ:MU), we notice a call option sweep that happens to be bullish, expiring in 93 day(s) on April 19, 2024. This event was a transfer of 484 contract(s) at a $100.00 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 $56.1K, with a price of $116.0 per contract. There were 6138 open contracts at this strike prior to today, and today 513 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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