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 bullish stance on GigaCloud Tech (NASDAQ:GCT).
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 GCT, 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 14 uncommon options trades for GigaCloud Tech.
This isn't normal.
The overall sentiment of these big-money traders is split between 57% bullish and 42%, bearish.
Out of all of the special options we uncovered, 3 are puts, for a total amount of $115,930, and 11 are calls, for a total amount of $489,970.
Projected Price Targets
Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $20.0 to $55.0 for GigaCloud Tech during the past quarter.
Volume & Open Interest Development
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 GigaCloud Tech'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 GigaCloud Tech's whale activity within a strike price range from $20.0 to $55.0 in the last 30 days.
GigaCloud Tech Option Volume And Open Interest Over Last 30 Days
Significant Options Trades Detected:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| GCT | CALL | SWEEP | BULLISH | 04/19/24 | $1.9 | $1.8 | $1.8 | $35.00 | $67.5K | 2.4K | 428 |
| GCT | CALL | TRADE | BULLISH | 05/17/24 | $5.8 | $5.5 | $5.8 | $30.00 | $58.0K | 758 | 243 |
| GCT | CALL | TRADE | BULLISH | 05/17/24 | $5.8 | $5.0 | $5.8 | $30.00 | $58.0K | 758 | 143 |
| GCT | CALL | TRADE | BULLISH | 10/18/24 | $10.9 | $10.5 | $10.9 | $30.00 | $54.5K | 365 | 234 |
| GCT | CALL | TRADE | BEARISH | 04/19/24 | $11.0 | $10.3 | $10.3 | $20.00 | $51.5K | 575 | 52 |
About GigaCloud Tech
GigaCloud Technology Inc end-to-end B2B e-commerce solutions for large parcel merchandise. Its B2B e-commerce platform, which is referred to as the GigaCloud Marketplace, integrates everything from discovery, payments, and logistics tools into one easy-to-use platform. It offers online and offline integrated cross-border transaction and delivery services for furniture and large merchandise. Its marketplace seamlessly connects manufacturers in Asia, with resellers in the U.S., Asia, and Europe, to execute cross-border transactions with confidence, speed, and efficiency. It offers a truly comprehensive solution that transports products from the manufacturer's warehouse to end customers, all at one fixed price.
In light of the recent options history for GigaCloud Tech, it's now appropriate to focus on the company itself. We aim to explore its current performance.
GigaCloud Tech's Current Market Status
- With a trading volume of 2,702,092, the price of GCT is down by -0.23%, reaching $30.72.
- Current RSI values indicate that the stock is may be approaching overbought.
- Next earnings report is scheduled for 50 days from now.
Expert Opinions on GigaCloud Tech
1 market experts have recently issued ratings for this stock, with a consensus target price of $35.0.
- An analyst from Roth MKM persists with their Buy rating on GigaCloud Tech, maintaining a target price of $35.
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 GigaCloud Tech 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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