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.
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.
Here's the list of options activity happening in today's session:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| TSLA | CALL | SWEEP | BULLISH | 02/09/24 | $190.00 | $37.2K | 43.8K | 143.5K |
| AMZN | PUT | SWEEP | BEARISH | 02/09/24 | $170.00 | $29.3K | 9.0K | 17.1K |
| EXPE | CALL | SWEEP | BULLISH | 02/09/24 | $165.00 | $139.4K | 403 | 3.3K |
| DKNG | PUT | SWEEP | BEARISH | 02/16/24 | $40.00 | $29.0K | 4.0K | 2.3K |
| RIVN | CALL | TRADE | BEARISH | 09/20/24 | $37.50 | $39.0K | 810 | 2.2K |
| GME | CALL | SWEEP | BULLISH | 04/19/24 | $20.00 | $42.5K | 7.8K | 1.5K |
| NIO | CALL | SWEEP | BULLISH | 12/20/24 | $12.00 | $26.4K | 2.4K | 774 |
| LI | CALL | SWEEP | BULLISH | 04/19/24 | $32.00 | $68.8K | 942 | 596 |
| WYNN | CALL | TRADE | BULLISH | 01/17/25 | $125.00 | $48.9K | 1.1K | 413 |
| PDD | CALL | TRADE | BEARISH | 05/17/24 | $140.00 | $141.6K | 611 | 378 |
Explanation
These itemized elaborations have been created using the accompanying table.
• For TSLA (NASDAQ:TSLA), we notice a call option sweep that happens to be bullish, expiring in 1 day(s) on February 9, 2024. This event was a transfer of 188 contract(s) at a $190.00 strike. This particular call needed to be split into 38 different trades to become filled. The total cost received by the writing party (or parties) was $37.2K, with a price of $199.0 per contract. There were 43890 open contracts at this strike prior to today, and today 143545 contract(s) were bought and sold.
• Regarding AMZN (NASDAQ:AMZN), we observe a put option sweep with bearish sentiment. It expires in 1 day(s) on February 9, 2024. Parties traded 500 contract(s) at a $170.00 strike. This particular put needed to be split into 43 different trades to become filled. The total cost received by the writing party (or parties) was $29.3K, with a price of $59.0 per contract. There were 9095 open contracts at this strike prior to today, and today 17133 contract(s) were bought and sold.
• Regarding EXPE (NASDAQ:EXPE), we observe a call option sweep with bullish sentiment. It expires in 1 day(s) on February 9, 2024. Parties traded 336 contract(s) at a $165.00 strike. This particular call needed to be split into 25 different trades to become filled. The total cost received by the writing party (or parties) was $139.4K, with a price of $415.0 per contract. There were 403 open contracts at this strike prior to today, and today 3331 contract(s) were bought and sold.
• Regarding DKNG (NASDAQ:DKNG), we observe a put option sweep with bearish sentiment. It expires in 8 day(s) on February 16, 2024. Parties traded 269 contract(s) at a $40.00 strike. This particular put needed to be split into 17 different trades to become filled. The total cost received by the writing party (or parties) was $29.0K, with a price of $108.0 per contract. There were 4090 open contracts at this strike prior to today, and today 2315 contract(s) were bought and sold.
• For RIVN (NASDAQ:RIVN), we notice a call option trade that happens to be bearish, expiring in 225 day(s) on September 20, 2024. This event was a transfer of 1000 contract(s) at a $37.50 strike. The total cost received by the writing party (or parties) was $39.0K, with a price of $39.0 per contract. There were 810 open contracts at this strike prior to today, and today 2200 contract(s) were bought and sold.
• For GME (NYSE:GME), we notice a call option sweep that happens to be bullish, expiring in 71 day(s) on April 19, 2024. This event was a transfer of 747 contract(s) at a $20.00 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 $42.5K, with a price of $57.0 per contract. There were 7847 open contracts at this strike prior to today, and today 1531 contract(s) were bought and sold.
• For NIO (NYSE:NIO), we notice a call option sweep that happens to be bullish, expiring in 316 day(s) on December 20, 2024. This event was a transfer of 528 contract(s) at a $12.00 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 $26.4K, with a price of $50.0 per contract. There were 2475 open contracts at this strike prior to today, and today 774 contract(s) were bought and sold.
• Regarding LI (NASDAQ:LI), we observe a call option sweep with bullish sentiment. It expires in 71 day(s) on April 19, 2024. Parties traded 298 contract(s) at a $32.00 strike. This particular call needed to be split into 12 different trades to become filled. The total cost received by the writing party (or parties) was $68.8K, with a price of $231.0 per contract. There were 942 open contracts at this strike prior to today, and today 596 contract(s) were bought and sold.
• For WYNN (NASDAQ:WYNN), we notice a call option trade that happens to be bullish, expiring in 344 day(s) on January 17, 2025. This event was a transfer of 64 contract(s) at a $125.00 strike. The total cost received by the writing party (or parties) was $48.9K, with a price of $765.0 per contract. There were 1184 open contracts at this strike prior to today, and today 413 contract(s) were bought and sold.
• For PDD (NASDAQ:PDD), we notice a call option trade that happens to be bearish, expiring in 99 day(s) on May 17, 2024. This event was a transfer of 184 contract(s) at a $140.00 strike. The total cost received by the writing party (or parties) was $141.6K, with a price of $770.0 per contract. There were 611 open contracts at this strike prior to today, and today 378 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.
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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