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 Wingstop (NASDAQ:WING).
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 WING, 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 9 uncommon options trades for Wingstop.
This isn't normal.
The overall sentiment of these big-money traders is split between 44% bullish and 55%, bearish.
Out of all of the special options we uncovered, 7 are puts, for a total amount of $356,903, and 2 are calls, for a total amount of $115,580.
Expected Price Movements
Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $250.0 to $390.0 for Wingstop over the recent three months.
Volume & Open Interest Trends
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 Wingstop'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 Wingstop's whale activity within a strike price range from $250.0 to $390.0 in the last 30 days.
Wingstop 30-Day Option Volume & Interest Snapshot
Significant Options Trades Detected:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| WING | PUT | SWEEP | BULLISH | 01/17/25 | $250.00 | $114.3K | 1.1K | 103 |
| WING | PUT | SWEEP | BULLISH | 04/19/24 | $390.00 | $81.6K | 80 | 25 |
| WING | CALL | SWEEP | BEARISH | 06/21/24 | $370.00 | $70.9K | 70 | 58 |
| WING | PUT | TRADE | BEARISH | 05/17/24 | $350.00 | $58.0K | 144 | 44 |
| WING | CALL | SWEEP | BEARISH | 01/17/25 | $360.00 | $44.5K | 27 | 8 |
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.
Following our analysis of the options activities associated with Wingstop, we pivot to a closer look at the company's own performance.
Wingstop's Current Market Status
- With a trading volume of 237,605, the price of WING is down by 0.0%, reaching $368.0.
- Current RSI values indicate that the stock is may be approaching overbought.
- Next earnings report is scheduled for 35 days from now.
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.
- Consistent in their evaluation, an analyst from TD Cowen keeps a Outperform rating on Wingstop with a target price of $410.
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 Wingstop 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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