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.
Financial giants have made a conspicuous bearish move on Cummins. Our analysis of options history for Cummins (NYSE:CMI) revealed 11 unusual trades.
Delving into the details, we found 45% of traders were bullish, while 54% showed bearish tendencies. Out of all the trades we spotted, 3 were puts, with a value of $178,536, and 8 were calls, valued at $304,927.
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 $170.0 to $320.0 for Cummins over the last 3 months.
Volume & Open Interest Development
In terms of liquidity and interest, the mean open interest for Cummins options trades today is 170.0 with a total volume of 485.00.
In the following chart, we are able to follow the development of volume and open interest of call and put options for Cummins's big money trades within a strike price range of $170.0 to $320.0 over the last 30 days.
Cummins 30-Day Option Volume & Interest Snapshot
Biggest Options Spotted:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| CMI | PUT | TRADE | BULLISH | 04/19/24 | $300.00 | $108.9K | 0 | 1 |
| CMI | CALL | TRADE | NEUTRAL | 03/28/24 | $295.00 | $84.0K | 6 | 201 |
| CMI | CALL | TRADE | BULLISH | 04/19/24 | $280.00 | $44.1K | 318 | 30 |
| CMI | PUT | TRADE | BULLISH | 04/19/24 | $300.00 | $43.6K | 0 | 151 |
| CMI | CALL | TRADE | BULLISH | 06/21/24 | $260.00 | $40.2K | 473 | 17 |
About Cummins
Cummins is the top manufacturer of diesel engines used in commercial trucks, off-highway equipment, and railroad locomotives, in addition to standby and prime power generators. The company also sells powertrain components, which include transmissions, turbochargers, aftertreatment systems, and fuel systems. Cummins is in the unique position of competing with its primary customers, heavy-duty truck manufacturers, who make and aggressively market their own engines. Despite robust competition across all its segments and increasing government regulation of carbon emissions, Cummins has maintained its leadership position in the industry.
Following our analysis of the options activities associated with Cummins, we pivot to a closer look at the company's own performance.
Where Is Cummins Standing Right Now?
- Currently trading with a volume of 551,513, the CMI's price is down by 0.0%, now at $287.13.
- RSI readings suggest the stock is currently may be overbought.
- Anticipated earnings release is in 40 days.
Expert Opinions on Cummins
2 market experts have recently issued ratings for this stock, with a consensus target price of $312.0.
- An analyst from Truist Securities downgraded its action to Hold with a price target of $303.
- In a positive move, an analyst from UBS has upgraded their rating to Buy and adjusted the price target to $321.
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 Cummins with Benzinga Pro for real-time 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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