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.
Whales with a lot of money to spend have taken a noticeably bearish stance on Enovix.
Looking at options history for Enovix (NASDAQ:ENVX) we detected 9 trades.
If we consider the specifics of each trade, it is accurate to state that 44% of the investors opened trades with bullish expectations and 55% with bearish.
From the overall spotted trades, 3 are puts, for a total amount of $126,475 and 6, calls, for a total amount of $180,373.
Projected Price Targets
Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $7.5 to $30.0 for Enovix during the past quarter.
Analyzing Volume & Open Interest
In today's trading context, the average open interest for options of Enovix stands at 5687.67, with a total volume reaching 3,408.00. The accompanying chart delineates the progression of both call and put option volume and open interest for high-value trades in Enovix, situated within the strike price corridor from $7.5 to $30.0, throughout the last 30 days.
Enovix Option Volume And Open Interest Over Last 30 Days
Biggest Options Spotted:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| ENVX | PUT | SWEEP | BULLISH | 04/19/24 | $9.00 | $61.9K | 4.8K | 1.0K |
| ENVX | PUT | TRADE | BEARISH | 07/19/24 | $20.00 | $36.7K | 123 | 0 |
| ENVX | CALL | TRADE | BULLISH | 01/17/25 | $10.00 | $33.1K | 6.1K | 410 |
| ENVX | CALL | SWEEP | BULLISH | 01/17/25 | $30.00 | $32.1K | 11.8K | 1.0K |
| ENVX | CALL | TRADE | BEARISH | 01/16/26 | $15.00 | $31.7K | 6.2K | 394 |
About Enovix
Enovix Corp is engaged in the business of advanced silicon-anode lithium-ion battery development and production. It is also developing its 3D cell technology and production process for the electric vehicle and energy storage markets to help enable the widespread utilization of renewable energy.
Following our analysis of the options activities associated with Enovix, we pivot to a closer look at the company's own performance.
Where Is Enovix Standing Right Now?
- Currently trading with a volume of 4,386,111, the ENVX's price is up by 2.65%, now at $8.14.
- RSI readings suggest the stock is currently may be oversold.
- Anticipated earnings release is in 41 days.
Expert Opinions on Enovix
In the last month, 3 experts released ratings on this stock with an average target price of $23.666666666666668.
- An analyst from EF Hutton downgraded its action to Buy with a price target of $24.
- An analyst from Cantor Fitzgerald has revised its rating downward to Overweight, adjusting the price target to $30.
- Reflecting concerns, an analyst from Canaccord Genuity lowers its rating to Buy with a new price target of $17.
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 Enovix 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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