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 significant funds have taken a bullish position in APA (NASDAQ:APA), a development that retail traders should be aware of.
This was brought to our attention today through our monitoring of publicly accessible options data at Benzinga. The exact nature of these investors remains a mystery, but such a major move in APA usually indicates foreknowledge of upcoming events.
Today, Benzinga's options scanner identified 9 options transactions for APA. This is an unusual occurrence. The sentiment among these large-scale traders is mixed, with 66% being bullish and 33% bearish. Of all the options we discovered, 8 are puts, valued at $340,283, and there was a single call, worth $25,567.
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 $34.0 to $42.5 for APA over the last 3 months.
Analyzing Volume & Open Interest
Examining the volume and open interest provides crucial insights into stock research. This information is key in gauging liquidity and interest levels for APA's options at certain strike prices. Below, we present a snapshot of the trends in volume and open interest for calls and puts across APA's significant trades, within a strike price range of $34.0 to $42.5, over the past month.
APA 30-Day Option Volume & Interest Snapshot
Noteworthy Options Activity:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| APA | PUT | SWEEP | BULLISH | 09/20/24 | $8.45 | $8.4 | $8.45 | $42.50 | $85.3K | 0 | 102 |
| APA | PUT | SWEEP | BULLISH | 09/20/24 | $8.5 | $8.4 | $8.4 | $42.50 | $78.1K | 0 | 196 |
| APA | PUT | SWEEP | BEARISH | 04/12/24 | $0.35 | $0.33 | $0.35 | $34.50 | $35.0K | 537 | 1.4K |
| APA | PUT | SWEEP | BEARISH | 04/19/24 | $0.54 | $0.53 | $0.54 | $34.00 | $30.7K | 916 | 10 |
| APA | PUT | SWEEP | BULLISH | 06/21/24 | $4.0 | $3.85 | $3.85 | $37.50 | $29.6K | 1.2K | 0 |
About APA
Based in Houston, APA is an independent exploration and production company. It operates primarily in the US, Egypt, the North Sea, and Suriname. At year-end 2023, proved reserves totaled 807 million barrels of oil equivalent, with net reported production of 405 thousand boe/day that year (64% of which was oil and natural gas liquids, with the remainder natural gas).
Having examined the options trading patterns of APA, our attention now turns directly to the company. This shift allows us to delve into its present market position and performance
Present Market Standing of APA
- With a trading volume of 1,436,543, the price of APA is down by -1.52%, reaching $34.36.
- Current RSI values indicate that the stock is may be approaching overbought.
- Next earnings report is scheduled for 21 days from now.
What Analysts Are Saying About APA
5 market experts have recently issued ratings for this stock, with a consensus target price of $41.6.
- An analyst from Barclays downgraded its action to Equal-Weight with a price target of $40.
- An analyst from Goldman Sachs has decided to maintain their Sell rating on APA, which currently sits at a price target of $31.
- An analyst from Roth MKM has decided to maintain their Buy rating on APA, which currently sits at a price target of $39.
- An analyst from RBC Capital has decided to maintain their Sector Perform rating on APA, which currently sits at a price target of $45.
- An analyst from Truist Securities persists with their Buy rating on APA, maintaining a target price of $53.
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 APA 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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