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.
This whale alert can help traders discover the next big trading opportunities.
Whales are entities with large sums of money and we track their transactions here at Benzinga on our options activity scanner.
Traders often look for circumstances when the market estimation of an option diverges away from its normal worth. Abnormal amounts of trading activity could push option prices to hyperbolic or underperforming levels.
Below are some instances of options activity happening in the Financials sector:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| SQ | CALL | TRADE | NEUTRAL | 05/17/24 | $85.00 | $28.5K | 8.4K | 5.3K |
| AGNC | PUT | SWEEP | BEARISH | 04/19/24 | $10.00 | $33.5K | 6.7K | 3.7K |
| COIN | CALL | SWEEP | BULLISH | 04/05/24 | $260.00 | $29.5K | 1.1K | 1.8K |
| GL | CALL | TRADE | NEUTRAL | 04/19/24 | $115.00 | $78.0K | 349 | 243 |
| PYPL | CALL | TRADE | BEARISH | 05/17/24 | $65.00 | $45.5K | 8.6K | 242 |
| BX | CALL | SWEEP | BEARISH | 01/16/26 | $150.00 | $25.2K | 208 | 16 |
| JPM | CALL | TRADE | BEARISH | 01/17/25 | $170.00 | $36.9K | 4.4K | 14 |
| ALL | CALL | SWEEP | NEUTRAL | 07/19/24 | $150.00 | $25.5K | 117 | 10 |
| GS | CALL | SWEEP | BEARISH | 01/17/25 | $410.00 | $53.9K | 506 | 0 |
Explanation
These bullet-by-bullet explanations have been constructed using the accompanying table.
• Regarding SQ (NYSE:SQ), we observe a call option trade with neutral sentiment. It expires in 46 day(s) on May 17, 2024. Parties traded 50 contract(s) at a $85.00 strike. The total cost received by the writing party (or parties) was $28.5K, with a price of $570.0 per contract. There were 8427 open contracts at this strike prior to today, and today 5374 contract(s) were bought and sold.
• For AGNC (NASDAQ:AGNC), we notice a put option sweep that happens to be bearish, expiring in 18 day(s) on April 19, 2024. This event was a transfer of 1083 contract(s) at a $10.00 strike. This particular put needed to be split into 37 different trades to become filled. The total cost received by the writing party (or parties) was $33.5K, with a price of $31.0 per contract. There were 6710 open contracts at this strike prior to today, and today 3762 contract(s) were bought and sold.
• Regarding COIN (NASDAQ:COIN), we observe a call option sweep with bullish sentiment. It expires in 4 day(s) on April 5, 2024. Parties traded 50 contract(s) at a $260.00 strike. This particular call needed to be split into 3 different trades to become filled. The total cost received by the writing party (or parties) was $29.5K, with a price of $590.0 per contract. There were 1190 open contracts at this strike prior to today, and today 1830 contract(s) were bought and sold.
• Regarding GL (NYSE:GL), we observe a call option trade with neutral sentiment. It expires in 18 day(s) on April 19, 2024. Parties traded 200 contract(s) at a $115.00 strike. The total cost received by the writing party (or parties) was $78.0K, with a price of $390.0 per contract. There were 349 open contracts at this strike prior to today, and today 243 contract(s) were bought and sold.
• For PYPL (NASDAQ:PYPL), we notice a call option trade that happens to be bearish, expiring in 46 day(s) on May 17, 2024. This event was a transfer of 100 contract(s) at a $65.00 strike. The total cost received by the writing party (or parties) was $45.5K, with a price of $456.0 per contract. There were 8620 open contracts at this strike prior to today, and today 242 contract(s) were bought and sold.
• For BX (NYSE:BX), we notice a call option sweep that happens to be bearish, expiring in 655 day(s) on January 16, 2026. This event was a transfer of 16 contract(s) at a $150.00 strike. This particular call needed to be split into 10 different trades to become filled. The total cost received by the writing party (or parties) was $25.2K, with a price of $1575.0 per contract. There were 208 open contracts at this strike prior to today, and today 16 contract(s) were bought and sold.
• Regarding JPM (NYSE:JPM), we observe a call option trade with bearish sentiment. It expires in 291 day(s) on January 17, 2025. Parties traded 10 contract(s) at a $170.00 strike. The total cost received by the writing party (or parties) was $36.9K, with a price of $3698.0 per contract. There were 4458 open contracts at this strike prior to today, and today 14 contract(s) were bought and sold.
• For ALL (NYSE:ALL), we notice a call option sweep that happens to be neutral, expiring in 109 day(s) on July 19, 2024. This event was a transfer of 10 contract(s) at a $150.00 strike. This particular call needed to be split into 5 different trades to become filled. The total cost received by the writing party (or parties) was $25.5K, with a price of $2552.0 per contract. There were 117 open contracts at this strike prior to today, and today 10 contract(s) were bought and sold.
• For GS (NYSE:GS), we notice a call option sweep that happens to be bearish, expiring in 291 day(s) on January 17, 2025. This event was a transfer of 13 contract(s) at a $410.00 strike. This particular call needed to be split into 4 different trades to become filled. The total cost received by the writing party (or parties) was $53.9K, with a price of $4150.0 per contract. There were 506 open contracts at this strike prior to today, and today 0 contract(s) were bought and sold.
Options Alert Terminology
- Call Contracts: The right to buy shares as indicated in the contract.
- Put Contracts: The right to sell shares as indicated in the contract.
- Expiration Date: When the contract expires. One must act on the contract by this date if one wants to use it.
- Premium/Option Price: The price of the contract.
For more information, visit our Guide to Understanding Options Alerts or read more about unusual options activity.
This article was generated by Benzinga's automated content engine and reviewed by an editor.
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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