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.
Investors with a lot of money to spend have taken a bearish stance on Upstart Hldgs (NASDAQ:UPST).
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 UPST, 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 10 uncommon options trades for Upstart Hldgs.
This isn't normal.
The overall sentiment of these big-money traders is split between 20% bullish and 80%, bearish.
Out of all of the special options we uncovered, 6 are puts, for a total amount of $255,442, and 4 are calls, for a total amount of $255,095.
What's The Price Target?
Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $23.0 to $35.0 for Upstart Hldgs over the last 3 months.
Analyzing Volume & Open Interest
Assessing the volume and open interest is a strategic step in options trading. These metrics shed light on the liquidity and investor interest in Upstart Hldgs's options at specified strike prices. The forthcoming data visualizes the fluctuation in volume and open interest for both calls and puts, linked to Upstart Hldgs's substantial trades, within a strike price spectrum from $23.0 to $35.0 over the preceding 30 days.
Upstart Hldgs 30-Day Option Volume & Interest Snapshot
Noteworthy Options Activity:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| UPST | CALL | SWEEP | NEUTRAL | 01/17/25 | $30.00 | $151.2K | 2.3K | 248 |
| UPST | PUT | TRADE | BEARISH | 03/15/24 | $35.00 | $76.5K | 4.5K | 123 |
| UPST | PUT | TRADE | BEARISH | 03/15/24 | $26.50 | $44.8K | 1.7K | 866 |
| UPST | CALL | TRADE | BEARISH | 09/20/24 | $25.00 | $38.3K | 439 | 56 |
| UPST | PUT | TRADE | BULLISH | 03/15/24 | $26.50 | $38.2K | 1.7K | 302 |
About Upstart Hldgs
Upstart Holdings Inc provides credit services. The company provides a proprietary, cloud-based, artificial intelligence lending platform. The platform aggregates consumer demand for loans and connects it to the network of Upstart AI-enabled bank partners. Upstart's platform includes personal loans, automotive retail and refinance loans, home equity lines of credit and small dollar loans.
Following our analysis of the options activities associated with Upstart Hldgs, we pivot to a closer look at the company's own performance.
Where Is Upstart Hldgs Standing Right Now?
- Trading volume stands at 3,233,762, with UPST's price up by 0.69%, positioned at $26.45.
- RSI indicators show the stock to be may be approaching oversold.
- Earnings announcement expected in 56 days.
Professional Analyst Ratings for Upstart Hldgs
In the last month, 2 experts released ratings on this stock with an average target price of $26.0.
- Maintaining their stance, an analyst from Piper Sandler continues to hold a Neutral rating for Upstart Hldgs, targeting a price of $28.
- An analyst from JP Morgan has decided to maintain their Underweight rating on Upstart Hldgs, which currently sits at a price target of $24.
Options are a riskier asset compared to just trading the stock, but they have higher profit potential. Serious options traders manage this risk by educating themselves daily, scaling in and out of trades, following more than one indicator, and following the markets closely.
If you want to stay updated on the latest options trades for Upstart Hldgs, Benzinga Pro gives you real-time options trades alerts.
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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