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 Aurora Cannabis (NASDAQ:ACB).
And retail traders should know.
We noticed this today when the positions 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 ACB, it often means somebody knows something is about to happen.
Today, Benzinga's options scanner spotted 14 options trades for Aurora Cannabis.
This isn't normal.
The overall sentiment of these big-money traders is split between 42% bullish and 57%, bearish.
Out of all of the options we uncovered, there was 1 put, for a total amount of $36,400, and 13, calls, for a total amount of $637,346.
Expected Price Movements
Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $4.0 to $14.0 for Aurora Cannabis over the last 3 months.
Analyzing Volume & Open Interest
Assessing the volume and open interest is a strategic step in options trading. These metrics shed light on the liquidity and investor interest in Aurora Cannabis's options at specified strike prices. The forthcoming data visualizes the fluctuation in volume and open interest for both calls and puts, linked to Aurora Cannabis's substantial trades, within a strike price spectrum from $4.0 to $14.0 over the preceding 30 days.
Aurora Cannabis 30-Day Option Volume & Interest Snapshot
Largest Options Trades Observed:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ACB | CALL | SWEEP | BEARISH | 06/21/24 | $1.82 | $1.5 | $1.5 | $7.00 | $150.0K | 1.8K | 309 |
| ACB | CALL | SWEEP | BULLISH | 04/19/24 | $0.92 | $0.91 | $0.92 | $7.50 | $62.2K | 129 | 769 |
| ACB | CALL | SWEEP | BEARISH | 04/05/24 | $0.65 | $0.49 | $0.49 | $9.00 | $60.1K | 3.5K | 5.1K |
| ACB | CALL | SWEEP | BULLISH | 06/21/24 | $2.0 | $1.79 | $1.8 | $10.00 | $52.0K | 150 | 241 |
| ACB | CALL | SWEEP | BEARISH | 06/21/24 | $2.09 | $1.71 | $1.71 | $7.00 | $51.3K | 1.8K | 300 |
About Aurora Cannabis
Aurora Cannabis, headquartered in Edmonton, Canada, cultivates and sells medicinal and recreational cannabis through a portfolio of brands that includes Drift, San Rafael '71, Daily Special, Whistler, Being, and Greybeard. Although the company primarily operates in Canada, it has expanded internationally through medical cannabis exporting agreements.
In light of the recent options history for Aurora Cannabis, it's now appropriate to focus on the company itself. We aim to explore its current performance.
Where Is Aurora Cannabis Standing Right Now?
- With a volume of 14,808,352, the price of ACB is up 1.25% at $7.3.
- RSI indicators hint that the underlying stock may be overbought.
- Next earnings are expected to be released in 41 days.
Options are a riskier asset compared to just trading the stock, but they have higher profit potential. Serious options traders manage this risk by educating themselves daily, scaling in and out of trades, following more than one indicator, and following the markets closely.
If you want to stay updated on the latest options trades for Aurora Cannabis, Benzinga Pro gives you real-time options trades 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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