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.
Whales with a lot of money to spend have taken a noticeably bullish stance on Wingstop.
Looking at options history for Wingstop (NASDAQ:WING) we detected 12 trades.
If we consider the specifics of each trade, it is accurate to state that 66% of the investors opened trades with bullish expectations and 33% with bearish.
From the overall spotted trades, 7 are puts, for a total amount of $360,257 and 5, calls, for a total amount of $231,109.
Predicted Price Range
Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $70.0 to $370.0 for Wingstop over the last 3 months.
Insights into Volume & Open Interest
Looking at the volume and open interest is a powerful move while trading options. This data can help you track the liquidity and interest for Wingstop'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 Wingstop's whale trades within a strike price range from $70.0 to $370.0 in the last 30 days.
Wingstop Option Volume And Open Interest Over Last 30 Days
Biggest Options Spotted:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| WING | CALL | TRADE | BEARISH | 05/17/24 | $85.0 | $82.2 | $82.2 | $270.00 | $82.2K | 0 | 0 |
| WING | PUT | TRADE | NEUTRAL | 05/17/24 | $11.6 | $11.4 | $11.5 | $330.00 | $74.7K | 142 | 10 |
| WING | PUT | TRADE | BULLISH | 04/19/24 | $14.6 | $14.0 | $14.0 | $370.00 | $68.6K | 588 | 161 |
| WING | PUT | TRADE | BULLISH | 04/19/24 | $13.7 | $13.4 | $13.4 | $370.00 | $67.0K | 588 | 271 |
| WING | CALL | TRADE | BULLISH | 04/19/24 | $19.2 | $16.9 | $18.5 | $350.00 | $48.1K | 385 | 45 |
About Wingstop
Founded in 1994 in Garland, Texas, Wingstop is a restaurant operator specializing in indulgent bone-in and boneless chicken wings, chicken tenders, fries, and, recently, chicken sandwiches. The firm's footprint has grown quickly since its inception, reaching north of 2,200 global stores at the end of 2023, rendering Wingstop the 31st-largest restaurant brand in the U.S. by system sales, according to Euromonitor data. With a 98% franchised model, Wingstop generates the lion share of its revenue from franchise royalties and advertising fees, with the remainder derived from a small footprint of company-owned stores.
Current Position of Wingstop
- With a volume of 369,311, the price of WING is down -1.14% at $350.27.
- RSI indicators hint that the underlying stock may be approaching overbought.
- Next earnings are expected to be released in 21 days.
What The Experts Say On Wingstop
A total of 3 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $336.3333333333333.
- An analyst from TD Cowen downgraded its action to Buy with a price target of $410.
- An analyst from Truist Securities has decided to maintain their Hold rating on Wingstop, which currently sits at a price target of $292.
- An analyst from Truist Securities persists with their Hold rating on Wingstop, maintaining a target price of $307.
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 Wingstop 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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