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 Wingstop. Our analysis of options history for Wingstop (NASDAQ:WING) revealed 38 unusual trades.
Delving into the details, we found 39% of traders were bullish, while 60% showed bearish tendencies. Out of all the trades we spotted, 9 were puts, with a value of $489,715, and 29 were calls, valued at $2,064,179.
Expected Price Movements
After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $280.0 and $420.0 for Wingstop, spanning the last three months.
Volume & Open Interest Development
In terms of liquidity and interest, the mean open interest for Wingstop options trades today is 222.6 with a total volume of 4,556.00.
In the following chart, we are able to follow the development of volume and open interest of call and put options for Wingstop's big money trades within a strike price range of $280.0 to $420.0 over the last 30 days.
Wingstop Option Activity Analysis: Last 30 Days
Biggest Options Spotted:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| WING | CALL | TRADE | BEARISH | 07/19/24 | $370.00 | $740.0K | 43 | 200 |
| WING | PUT | TRADE | BULLISH | 04/19/24 | $370.00 | $149.2K | 307 | 151 |
| WING | PUT | SWEEP | BEARISH | 04/19/24 | $370.00 | $102.0K | 307 | 338 |
| WING | CALL | TRADE | NEUTRAL | 01/17/25 | $280.00 | $99.0K | 344 | 0 |
| WING | CALL | TRADE | BULLISH | 06/21/24 | $410.00 | $73.2K | 705 | 253 |
About Wingstop
Founded in 1994 in Garland, Texas, Wingstop is a restaurant operator specializing in indulgent bone-in and boneless chicken wings, chicken tenders, fries, and, recently, chicken sandwiches. The firm's footprint has grown quickly since its inception, reaching north of 2,200 global stores at the end of 2023, rendering Wingstop the 31st-largest restaurant brand in the U.S. by system sales, according to Euromonitor data. With a 98% franchised model, Wingstop generates the lion share of its revenue from franchise royalties and advertising fees, with the remainder derived from a small footprint of company-owned stores.
Where Is Wingstop Standing Right Now?
- Currently trading with a volume of 358,949, the WING's price is down by -0.34%, now at $355.1.
- RSI readings suggest the stock is currently may be approaching overbought.
- Anticipated earnings release is in 37 days.
What The Experts Say On Wingstop
In the last month, 1 experts released ratings on this stock with an average target price of $410.0.
- An analyst from TD Cowen persists with their Outperform rating on Wingstop, maintaining a target price of $410.
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 Wingstop 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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