20-Year Pro Trader Reveals His "MoneyLine"
Ditch your indicators and use the "MoneyLine". A simple line tells you when to buy and sell without the guesswork. It’s a line on a chart that’s helped Nic Chahine win 83% of his options buys. 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 will search for circumstances when the market estimation of an option diverges heavily from its normal worth. High amounts of trading activity could push option prices to exaggerated or underestimated levels.
Below are some instances of options activity happening in the Information Technology sector:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| NVDA | CALL | SWEEP | BEARISH | 04/12/24 | $880.00 | $30.7K | 1.8K | 10.5K |
| AI | CALL | SWEEP | BULLISH | 04/12/24 | $26.00 | $131.3K | 649 | 6.8K |
| MARA | CALL | SWEEP | BULLISH | 04/12/24 | $21.00 | $25.5K | 3.4K | 6.4K |
| MU | CALL | TRADE | BEARISH | 04/12/24 | $125.00 | $122.6K | 2.0K | 5.4K |
| AMD | CALL | TRADE | BULLISH | 04/19/24 | $175.00 | $49.0K | 9.4K | 2.6K |
| ON | CALL | SWEEP | BEARISH | 04/12/24 | $75.00 | $35.6K | 458 | 1.9K |
| CDW | CALL | SWEEP | BEARISH | 09/20/24 | $270.00 | $58.5K | 102 | 1.4K |
| HPE | CALL | SWEEP | BEARISH | 06/21/24 | $22.00 | $41.8K | 3.8K | 1.4K |
| PLTR | PUT | SWEEP | BULLISH | 05/03/24 | $23.00 | $90.6K | 2.2K | 1.3K |
| RIOT | CALL | SWEEP | BULLISH | 09/20/24 | $20.00 | $37.7K | 6.0K | 1.0K |
Explanation
These itemized elaborations have been created using the accompanying table.
• For NVDA (NASDAQ:NVDA), we notice a call option sweep that happens to be bearish, expiring in 7 day(s) on April 12, 2024. This event was a transfer of 15 contract(s) at a $880.00 strike. This particular call needed to be split into 9 different trades to become filled. The total cost received by the writing party (or parties) was $30.7K, with a price of $2050.0 per contract. There were 1801 open contracts at this strike prior to today, and today 10529 contract(s) were bought and sold.
• For AI (NYSE:AI), we notice a call option sweep that happens to be bullish, expiring in 7 day(s) on April 12, 2024. This event was a transfer of 4238 contract(s) at a $26.00 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 $131.3K, with a price of $31.0 per contract. There were 649 open contracts at this strike prior to today, and today 6846 contract(s) were bought and sold.
• Regarding MARA (NASDAQ:MARA), we observe a call option sweep with bullish sentiment. It expires in 7 day(s) on April 12, 2024. Parties traded 500 contract(s) at a $21.00 strike. This particular call needed to be split into 12 different trades to become filled. The total cost received by the writing party (or parties) was $25.5K, with a price of $51.0 per contract. There were 3401 open contracts at this strike prior to today, and today 6490 contract(s) were bought and sold.
• Regarding MU (NASDAQ:MU), we observe a call option trade with bearish sentiment. It expires in 7 day(s) on April 12, 2024. Parties traded 601 contract(s) at a $125.00 strike. The total cost received by the writing party (or parties) was $122.6K, with a price of $204.0 per contract. There were 2081 open contracts at this strike prior to today, and today 5400 contract(s) were bought and sold.
• Regarding AMD (NASDAQ:AMD), we observe a call option trade with bullish sentiment. It expires in 14 day(s) on April 19, 2024. Parties traded 100 contract(s) at a $175.00 strike. The total cost received by the writing party (or parties) was $49.0K, with a price of $490.0 per contract. There were 9488 open contracts at this strike prior to today, and today 2668 contract(s) were bought and sold.
• Regarding ON (NASDAQ:ON), we observe a call option sweep with bearish sentiment. It expires in 7 day(s) on April 12, 2024. Parties traded 1837 contract(s) at a $75.00 strike. This particular call needed to be split into 70 different trades to become filled. The total cost received by the writing party (or parties) was $35.6K, with a price of $19.0 per contract. There were 458 open contracts at this strike prior to today, and today 1918 contract(s) were bought and sold.
• For CDW (NASDAQ:CDW), we notice a call option sweep that happens to be bearish, expiring in 168 day(s) on September 20, 2024. This event was a transfer of 44 contract(s) at a $270.00 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 $58.5K, with a price of $1330.0 per contract. There were 102 open contracts at this strike prior to today, and today 1448 contract(s) were bought and sold.
• For HPE (NYSE:HPE), we notice a call option sweep that happens to be bearish, expiring in 77 day(s) on June 21, 2024. This event was a transfer of 1396 contract(s) at a $22.00 strike. This particular call needed to be split into 22 different trades to become filled. The total cost received by the writing party (or parties) was $41.8K, with a price of $30.0 per contract. There were 3845 open contracts at this strike prior to today, and today 1416 contract(s) were bought and sold.
• Regarding PLTR (NYSE:PLTR), we observe a put option sweep with bullish sentiment. It expires in 28 day(s) on May 3, 2024. Parties traded 615 contract(s) at a $23.00 strike. This particular put needed to be split into 15 different trades to become filled. The total cost received by the writing party (or parties) was $90.6K, with a price of $148.0 per contract. There were 2281 open contracts at this strike prior to today, and today 1386 contract(s) were bought and sold.
• For RIOT (NASDAQ:RIOT), we notice a call option sweep that happens to be bullish, expiring in 168 day(s) on September 20, 2024. This event was a transfer of 300 contract(s) at a $20.00 strike. This particular call needed to be split into 7 different trades to become filled. The total cost received by the writing party (or parties) was $37.7K, with a price of $125.0 per contract. There were 6096 open contracts at this strike prior to today, and today 1009 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.
20-Year Pro Trader Reveals His "MoneyLine"
Ditch your indicators and use the "MoneyLine". A simple line tells you when to buy and sell without the guesswork. It’s a line on a chart that’s helped Nic Chahine win 83% of his options buys. 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!