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 bullish stance on BP (NYSE:BP).
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 these are institutions or just wealthy individuals, we don't know. But when something this big happens with BP, it often means somebody knows something is about to happen.
So how do we know what these investors just did?
Today, Benzinga's options scanner spotted 8 uncommon options trades for BP.
This isn't normal.
The overall sentiment of these big-money traders is split between 75% bullish and 25%, bearish.
Out of all of the special options we uncovered, 4 are puts, for a total amount of $235,425, and 4 are calls, for a total amount of $149,727.
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 $37.0 to $45.0 for BP during the past quarter.
Volume & Open Interest Trends
In terms of liquidity and interest, the mean open interest for BP options trades today is 7288.71 with a total volume of 975.00.
In the following chart, we are able to follow the development of volume and open interest of call and put options for BP's big money trades within a strike price range of $37.0 to $45.0 over the last 30 days.
BP Call and Put Volume: 30-Day Overview
Biggest Options Spotted:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| BP | PUT | SWEEP | BULLISH | 10/18/24 | $6.5 | $6.4 | $6.4 | $45.00 | $131.2K | 0 | 1 |
| BP | PUT | SWEEP | BEARISH | 12/20/24 | $3.25 | $3.2 | $3.25 | $40.00 | $49.0K | 29.1K | 0 |
| BP | CALL | TRADE | BULLISH | 01/17/25 | $2.0 | $1.97 | $2.0 | $42.00 | $46.8K | 4.0K | 242 |
| BP | CALL | SWEEP | BULLISH | 04/19/24 | $0.24 | $0.21 | $0.24 | $40.00 | $45.6K | 13.7K | 712 |
| BP | CALL | SWEEP | BULLISH | 12/20/24 | $1.81 | $1.8 | $1.81 | $42.00 | $32.0K | 3.2K | 0 |
About BP
BP is an integrated oil and gas company that explores for, produces, and refines oil around the world. In 2023, it produced 1.1 million barrels of liquids and 6.9 billion cubic feet of natural gas per day. At the end of 2022, reserves stood at 7.2 billion barrels of oil equivalent, 56% of which are liquids. The company operates refineries with a capacity of 1.6 million barrels of oil per day.
After a thorough review of the options trading surrounding BP, we move to examine the company in more detail. This includes an assessment of its current market status and performance.
Where Is BP Standing Right Now?
- Currently trading with a volume of 12,067,545, the BP's price is up by 0.28%, now at $39.4.
- RSI readings suggest the stock is currently may be overbought.
- Anticipated earnings release is in 20 days.
Trading options involves greater risks but also offers the potential for higher profits. Savvy traders mitigate these risks through ongoing education, strategic trade adjustments, utilizing various indicators, and staying attuned to market dynamics. Keep up with the latest options trades for BP with Benzinga Pro for real-time 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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