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 Simon Property Group (NYSE:SPG).
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 this is an institution or just a wealthy individual, we don't know. But when something this big happens with SPG, it often means somebody knows something is about to happen.
Today, Benzinga's options scanner spotted 8 options trades for Simon Property Group.
This isn't normal.
The overall sentiment of these big-money traders is split between 12% bullish and 87%, bearish.
Out of all of the options we uncovered, 7 are puts, for a total amount of $274,385, and there was 1 call, for a total amount of $28,300.
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 $160.0 to $160.0 for Simon Property Group during the past quarter.
Analyzing Volume & Open Interest
In today's trading context, the average open interest for options of Simon Property Group stands at 67.67, with a total volume reaching 571.00. The accompanying chart delineates the progression of both call and put option volume and open interest for high-value trades in Simon Property Group, situated within the strike price corridor from $160.0 to $160.0, throughout the last 30 days.
Simon Property Group Call and Put Volume: 30-Day Overview
Noteworthy Options Activity:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| SPG | PUT | TRADE | NEUTRAL | 06/21/24 | $12.1 | $11.7 | $11.87 | $160.00 | $49.8K | 176 | 126 |
| SPG | PUT | SWEEP | BULLISH | 07/19/24 | $12.8 | $12.5 | $12.5 | $160.00 | $48.7K | 12 | 158 |
| SPG | PUT | TRADE | NEUTRAL | 06/21/24 | $12.1 | $11.6 | $11.85 | $160.00 | $39.1K | 176 | 54 |
| SPG | PUT | SWEEP | BEARISH | 07/19/24 | $12.8 | $12.3 | $12.8 | $160.00 | $38.4K | 12 | 50 |
| SPG | PUT | SWEEP | BEARISH | 07/19/24 | $12.8 | $12.5 | $12.8 | $160.00 | $37.1K | 12 | 79 |
About Simon Property Group
Simon Property Group is the second-largest real estate investment trust in the United States. Its portfolio includes an interest in 230 properties: 136 traditional malls, 69 premium outlets, 14 Mills centers (a combination of a traditional mall, outlet center, and big-box retailers), 6 lifestyle centers, and 5 other retail properties. Simon's portfolio averaged $743 in sales per square foot in 2023 compared with $693 in sales per square foot over the 12 months before the pandemic. The company also owns a 21% interest in Klépierre, a European retail company with investments in shopping centers in 16 countries, and joint-venture interests in 33 premium outlets across 11 countries.
Where Is Simon Property Group Standing Right Now?
- Trading volume stands at 536,632, with SPG's price up by 0.85%, positioned at $151.02.
- RSI indicators show the stock to be is currently neutral between overbought and oversold.
- Earnings announcement expected in 26 days.
What Analysts Are Saying About Simon Property Group
Over the past month, 2 industry analysts have shared their insights on this stock, proposing an average target price of $147.0.
- Consistent in their evaluation, an analyst from Truist Securities keeps a Hold rating on Simon Property Group with a target price of $147.
- An analyst from Truist Securities has decided to maintain their Hold rating on Simon Property Group, which currently sits at a price target of $147.
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 Simon Property Group 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.
ENTER TO WIN $500 IN STOCK OR CRYPTO
Enter your email and you'll also get Benzinga's ultimate morning update AND a free $30 gift card and more!