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.
Investors with a lot of money to spend have taken a bearish stance on Sunnova Energy Intl (NYSE:NOVA).
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 NOVA, 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 21 uncommon options trades for Sunnova Energy Intl.
This isn't normal.
The overall sentiment of these big-money traders is split between 28% bullish and 71%, bearish.
Out of all of the special options we uncovered, 14 are puts, for a total amount of $1,081,221, and 7 are calls, for a total amount of $480,613.
Projected Price Targets
Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $7.5 to $15.0 for Sunnova Energy Intl over the last 3 months.
Volume & Open Interest Development
Examining the volume and open interest provides crucial insights into stock research. This information is key in gauging liquidity and interest levels for Sunnova Energy Intl's options at certain strike prices. Below, we present a snapshot of the trends in volume and open interest for calls and puts across Sunnova Energy Intl's significant trades, within a strike price range of $7.5 to $15.0, over the past month.
Sunnova Energy Intl Option Activity Analysis: Last 30 Days
Biggest Options Spotted:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| NOVA | CALL | SWEEP | NEUTRAL | 02/16/24 | $10.00 | $241.7K | 10.8K | 1.3K |
| NOVA | PUT | SWEEP | BEARISH | 03/15/24 | $12.00 | $152.2K | 919 | 1.0K |
| NOVA | PUT | SWEEP | BEARISH | 03/15/24 | $12.00 | $99.5K | 919 | 4.5K |
| NOVA | PUT | SWEEP | BULLISH | 03/15/24 | $9.00 | $98.4K | 2.9K | 720 |
| NOVA | PUT | SWEEP | BEARISH | 03/15/24 | $12.00 | $87.6K | 919 | 5.0K |
About Sunnova Energy Intl
Sunnova Energy International Inc is a residential solar and energy storage service provider company. It offers services such as operations and maintenance, monitoring, repairs and replacements, equipment upgrades and onsite power optimization. The products and services offered by the group include Add-on battery storage, Home solar protection plans, New solar battery storage, and various other solar systems.
Current Position of Sunnova Energy Intl
- Trading volume stands at 5,656,256, with NOVA's price up by 0.94%, positioned at $11.79.
- RSI indicators show the stock to be may be approaching overbought.
- Earnings announcement expected in 9 days.
What The Experts Say On Sunnova Energy Intl
Over the past month, 2 industry analysts have shared their insights on this stock, proposing an average target price of $19.5.
- Showing optimism, an analyst from Truist Securities upgrades its rating to Buy with a revised price target of $18.
- An analyst from B. Riley Securities has decided to maintain their Buy rating on Sunnova Energy Intl, which currently sits at a price target of $21.
Trading options involves greater risks but also offers the potential for higher profits. Savvy traders mitigate these risks through ongoing education, strategic trade adjustments, utilizing various indicators, and staying attuned to market dynamics. Keep up with the latest options trades for Sunnova Energy Intl with Benzinga Pro for real-time alerts.
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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