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 Financials sector:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| WFC | CALL | SWEEP | BULLISH | 05/17/24 | $55.00 | $28.6K | 4.2K | 5.9K |
| C | CALL | TRADE | BEARISH | 01/16/26 | $75.00 | $180.0K | 4.0K | 2.0K |
| COIN | CALL | TRADE | BULLISH | 04/19/24 | $145.00 | $175.4K | 1.6K | 1.3K |
| AMBC | CALL | SWEEP | BEARISH | 02/16/24 | $15.00 | $25.3K | 15.2K | 1.3K |
| SOFI | CALL | SWEEP | BEARISH | 01/17/25 | $12.00 | $112.5K | 27.3K | 1.2K |
| ABR | PUT | SWEEP | BULLISH | 04/19/24 | $12.50 | $170.0K | 12.4K | 1.0K |
| AFRM | CALL | SWEEP | BULLISH | 03/15/24 | $42.50 | $170.5K | 2.9K | 695 |
| NYCB | CALL | SWEEP | BULLISH | 07/19/24 | $5.00 | $26.0K | 5.1K | 518 |
| FLYW | CALL | SWEEP | BEARISH | 03/15/24 | $25.00 | $38.7K | 2.8K | 398 |
| PYPL | PUT | SWEEP | BULLISH | 04/19/24 | $60.00 | $34.1K | 15.5K | 377 |
Explanation
These bullet-by-bullet explanations have been constructed using the accompanying table.
• For WFC (NYSE:WFC), we notice a call option sweep that happens to be bullish, expiring in 92 day(s) on May 17, 2024. This event was a transfer of 200 contract(s) at a $55.00 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 $28.6K, with a price of $143.0 per contract. There were 4204 open contracts at this strike prior to today, and today 5999 contract(s) were bought and sold.
• Regarding C (NYSE:C), we observe a call option trade with bearish sentiment. It expires in 701 day(s) on January 16, 2026. Parties traded 643 contract(s) at a $75.00 strike. The total cost received by the writing party (or parties) was $180.0K, with a price of $280.0 per contract. There were 4096 open contracts at this strike prior to today, and today 2010 contract(s) were bought and sold.
• For COIN (NASDAQ:COIN), we notice a call option trade that happens to be bullish, expiring in 64 day(s) on April 19, 2024. This event was a transfer of 50 contract(s) at a $145.00 strike. The total cost received by the writing party (or parties) was $175.4K, with a price of $3509.0 per contract. There were 1668 open contracts at this strike prior to today, and today 1360 contract(s) were bought and sold.
• Regarding AMBC (NYSE:AMBC), we observe a call option sweep with bearish sentiment. It expires in 1 day(s) on February 16, 2024. Parties traded 241 contract(s) at a $15.00 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 $25.3K, with a price of $105.0 per contract. There were 15214 open contracts at this strike prior to today, and today 1312 contract(s) were bought and sold.
• Regarding SOFI (NASDAQ:SOFI), we observe a call option sweep with bearish sentiment. It expires in 337 day(s) on January 17, 2025. Parties traded 970 contract(s) at a $12.00 strike. This particular call needed to be split into 11 different trades to become filled. The total cost received by the writing party (or parties) was $112.5K, with a price of $116.0 per contract. There were 27390 open contracts at this strike prior to today, and today 1291 contract(s) were bought and sold.
• For ABR (NYSE:ABR), we notice a put option sweep that happens to be bullish, expiring in 64 day(s) on April 19, 2024. This event was a transfer of 1000 contract(s) at a $12.50 strike. This particular put needed to be split into 15 different trades to become filled. The total cost received by the writing party (or parties) was $170.0K, with a price of $170.0 per contract. There were 12437 open contracts at this strike prior to today, and today 1054 contract(s) were bought and sold.
• For AFRM (NASDAQ:AFRM), we notice a call option sweep that happens to be bullish, expiring in 29 day(s) on March 15, 2024. This event was a transfer of 509 contract(s) at a $42.50 strike. This particular call needed to be split into 6 different trades to become filled. The total cost received by the writing party (or parties) was $170.5K, with a price of $335.0 per contract. There were 2969 open contracts at this strike prior to today, and today 695 contract(s) were bought and sold.
• Regarding NYCB (NYSE:NYCB), we observe a call option sweep with bullish sentiment. It expires in 155 day(s) on July 19, 2024. Parties traded 200 contract(s) at a $5.00 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 $26.0K, with a price of $130.0 per contract. There were 5189 open contracts at this strike prior to today, and today 518 contract(s) were bought and sold.
• For FLYW (NASDAQ:FLYW), we notice a call option sweep that happens to be bearish, expiring in 29 day(s) on March 15, 2024. This event was a transfer of 387 contract(s) at a $25.00 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 $38.7K, with a price of $100.0 per contract. There were 2866 open contracts at this strike prior to today, and today 398 contract(s) were bought and sold.
• For PYPL (NASDAQ:PYPL), we notice a put option sweep that happens to be bullish, expiring in 64 day(s) on April 19, 2024. This event was a transfer of 102 contract(s) at a $60.00 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 $34.1K, with a price of $335.0 per contract. There were 15502 open contracts at this strike prior to today, and today 377 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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