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 bullish stance on Etsy.
Looking at options history for Etsy (NASDAQ:ETSY) we detected 10 trades.
If we consider the specifics of each trade, it is accurate to state that 50% of the investors opened trades with bullish expectations and 50% with bearish.
From the overall spotted trades, 3 are puts, for a total amount of $178,971 and 7, calls, for a total amount of $321,852.
Expected Price Movements
Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $60.0 to $80.0 for Etsy over the last 3 months.
Insights into Volume & Open Interest
Looking at the volume and open interest is an insightful way to conduct due diligence on a stock.
This data can help you track the liquidity and interest for Etsy's options for a given strike price.
Below, we can observe the evolution of the volume and open interest of calls and puts, respectively, for all of Etsy's whale activity within a strike price range from $60.0 to $80.0 in the last 30 days.
Etsy Option Volume And Open Interest Over Last 30 Days
Noteworthy Options Activity:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| ETSY | PUT | TRADE | BEARISH | 05/17/24 | $60.00 | $123.0K | 683 | 72 |
| ETSY | CALL | SWEEP | BULLISH | 07/19/24 | $60.00 | $99.5K | 55 | 110 |
| ETSY | CALL | SWEEP | BULLISH | 12/20/24 | $80.00 | $60.3K | 126 | 1 |
| ETSY | CALL | TRADE | BEARISH | 01/17/25 | $80.00 | $38.8K | 926 | 22 |
| ETSY | CALL | SWEEP | BULLISH | 05/17/24 | $70.00 | $32.8K | 2.4K | 108 |
About Etsy
Etsy operates a top-10 e-commerce marketplace operator in the U.S. and the U.K., with sizable operations in Germany, France, Australia, and Canada. The firm dominates an interesting niche, connecting buyers and sellers through its online market to exchange vintage and craft goods. With $13.2 billion in 2023 consolidated gross merchandise volume, Etsy has cemented itself as one of the largest players in a quickly growing space, generating revenue from listing fees, commissions on sold items, advertising services, payment processing, and shipping labels. As of the end of 2023, the firm connected more than 96 million buyers and 9 million sellers on its marketplace properties: Etsy, Reverb (musical equipment), and Depop (clothing resale).
Having examined the options trading patterns of Etsy, our attention now turns directly to the company. This shift allows us to delve into its present market position and performance
Where Is Etsy Standing Right Now?
- With a trading volume of 2,494,442, the price of ETSY is up by 0.74%, reaching $66.75.
- Current RSI values indicate that the stock is may be approaching oversold.
- Next earnings report is scheduled for 44 days from now.
Expert Opinions on Etsy
A total of 5 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $78.2.
- An analyst from Needham downgraded its action to Buy with a price target of $95.
- Consistent in their evaluation, an analyst from Barclays keeps a Equal-Weight rating on Etsy with a target price of $67.
- An analyst from Wells Fargo has decided to maintain their Underweight rating on Etsy, which currently sits at a price target of $62.
- An analyst from Piper Sandler persists with their Overweight rating on Etsy, maintaining a target price of $103.
- An analyst from Morgan Stanley has decided to maintain their Equal-Weight rating on Etsy, which currently sits at a price target of $64.
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 Etsy, 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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