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.
Benzinga's options scanner has just identified more than 9 option transactions on Rocket Companies (NYSE:RKT), with a cumulative value of $544,520. Concurrently, our algorithms picked up 2 puts, worth a total of 63,643.
Predicted Price Range
Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $12.0 to $16.0 for Rocket Companies over the last 3 months.
Analyzing Volume & Open Interest
In terms of liquidity and interest, the mean open interest for Rocket Companies options trades today is 731.33 with a total volume of 85,513.00.
In the following chart, we are able to follow the development of volume and open interest of call and put options for Rocket Companies's big money trades within a strike price range of $12.0 to $16.0 over the last 30 days.
Rocket Companies Option Activity Analysis: Last 30 Days
Largest Options Trades Observed:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| RKT | CALL | TRADE | BULLISH | 02/16/24 | $12.00 | $275.0K | 572 | 16.2K |
| RKT | CALL | TRADE | NEUTRAL | 02/16/24 | $12.00 | $88.5K | 572 | 5.0K |
| RKT | CALL | SWEEP | BULLISH | 01/16/26 | $12.00 | $45.4K | 1.5K | 143 |
| RKT | CALL | SWEEP | BULLISH | 02/16/24 | $12.00 | $43.9K | 572 | 7.4K |
| RKT | CALL | SWEEP | BULLISH | 02/16/24 | $12.00 | $41.2K | 572 | 20.4K |
About Rocket Companies
Rocket Companies is a financial services company that was originally founded as Rock Financial in 1985 and is currently based in Detroit. Rocket Companies offers a wide array of services and products but is best known for its Rocket Mortgage business. The company's mortgage lending operations are split between its direct-to-consumer lending, which sees borrowers accessing the company's lending arm directly through either its mobile app or website, and its partner network where mortgage brokers and other firms use Rocket's origination process to offer loans to their customers. The company has rapidly gained market share in recent years and is now the largest mortgage originator in the U.S. as well as the servicer for more than 2 million loans.
In light of the recent options history for Rocket Companies, it's now appropriate to focus on the company itself. We aim to explore its current performance.
Rocket Companies's Current Market Status
- Trading volume stands at 1,562,356, with RKT's price down by -0.87%, positioned at $11.45.
- RSI indicators show the stock to be may be approaching overbought.
- Earnings announcement expected in 10 days.
Expert Opinions on Rocket Companies
1 market experts have recently issued ratings for this stock, with a consensus target price of $10.0.
- An analyst from Citigroup downgraded its action to Sell with a price target of $10.
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 Rocket Companies 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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