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.
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.
Here's the list of options activity happening in today's session:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| BAC | CALL | SWEEP | BEARISH | 04/19/24 | $37.00 | $29.0K | 28.6K | 5.9K |
| JPM | CALL | SWEEP | BULLISH | 04/12/24 | $200.00 | $33.4K | 8.8K | 5.8K |
| GL | PUT | TRADE | BEARISH | 04/19/24 | $75.00 | $32.0K | 1.1K | 2.9K |
| COIN | CALL | TRADE | BEARISH | 04/19/24 | $250.00 | $1.0 million | 22.6K | 1.5K |
| C | CALL | SWEEP | BULLISH | 04/19/24 | $62.00 | $35.2K | 5.3K | 1.3K |
| ABR | PUT | SWEEP | BULLISH | 10/18/24 | $11.00 | $30.0K | 5.1K | 1.0K |
| HOOD | PUT | TRADE | BEARISH | 05/17/24 | $20.00 | $62.7K | 1.4K | 531 |
| BBAR | PUT | TRADE | BULLISH | 10/18/24 | $7.89 | $47.5K | 0 | 500 |
| FUTU | PUT | SWEEP | BEARISH | 01/17/25 | $60.00 | $95.3K | 1.8K | 175 |
| HIG | PUT | SWEEP | BEARISH | 06/21/24 | $95.00 | $36.3K | 466 | 168 |
Explanation
These bullet-by-bullet explanations have been constructed using the accompanying table.
• For BAC (NYSE:BAC), we notice a call option sweep that happens to be bearish, expiring in 8 day(s) on April 19, 2024. This event was a transfer of 500 contract(s) at a $37.00 strike. This particular call needed to be split into 18 different trades to become filled. The total cost received by the writing party (or parties) was $29.0K, with a price of $58.0 per contract. There were 28635 open contracts at this strike prior to today, and today 5961 contract(s) were bought and sold.
• Regarding JPM (NYSE:JPM), we observe a call option sweep with bullish sentiment. It expires in 1 day(s) on April 12, 2024. Parties traded 200 contract(s) at a $200.00 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 $33.4K, with a price of $167.0 per contract. There were 8809 open contracts at this strike prior to today, and today 5882 contract(s) were bought and sold.
• For GL (NYSE:GL), we notice a put option trade that happens to be bearish, expiring in 8 day(s) on April 19, 2024. This event was a transfer of 20 contract(s) at a $75.00 strike. The total cost received by the writing party (or parties) was $32.0K, with a price of $1600.0 per contract. There were 1131 open contracts at this strike prior to today, and today 2916 contract(s) were bought and sold.
• Regarding COIN (NASDAQ:COIN), we observe a call option trade with bearish sentiment. It expires in 8 day(s) on April 19, 2024. Parties traded 730 contract(s) at a $250.00 strike. The total cost received by the writing party (or parties) was $1.0 million, with a price of $1431.0 per contract. There were 22656 open contracts at this strike prior to today, and today 1557 contract(s) were bought and sold.
• For C (NYSE:C), we notice a call option sweep that happens to be bullish, expiring in 8 day(s) on April 19, 2024. This event was a transfer of 400 contract(s) at a $62.00 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 $35.2K, with a price of $88.0 per contract. There were 5320 open contracts at this strike prior to today, and today 1366 contract(s) were bought and sold.
• Regarding ABR (NYSE:ABR), we observe a put option sweep with bullish sentiment. It expires in 190 day(s) on October 18, 2024. Parties traded 200 contract(s) at a $11.00 strike. This particular put needed to be split into 3 different trades to become filled. The total cost received by the writing party (or parties) was $30.0K, with a price of $150.0 per contract. There were 5131 open contracts at this strike prior to today, and today 1058 contract(s) were bought and sold.
• For HOOD (NASDAQ:HOOD), we notice a put option trade that happens to be bearish, expiring in 36 day(s) on May 17, 2024. This event was a transfer of 256 contract(s) at a $20.00 strike. The total cost received by the writing party (or parties) was $62.7K, with a price of $245.0 per contract. There were 1440 open contracts at this strike prior to today, and today 531 contract(s) were bought and sold.
• For BBAR (NYSE:BBAR), we notice a put option trade that happens to be bullish, expiring in 190 day(s) on October 18, 2024. This event was a transfer of 500 contract(s) at a $7.89 strike. The total cost received by the writing party (or parties) was $47.5K, with a price of $95.0 per contract. There were 0 open contracts at this strike prior to today, and today 500 contract(s) were bought and sold.
• For FUTU (NASDAQ:FUTU), we notice a put option sweep that happens to be bearish, expiring in 281 day(s) on January 17, 2025. This event was a transfer of 102 contract(s) at a $60.00 strike. This particular put needed to be split into 8 different trades to become filled. The total cost received by the writing party (or parties) was $95.3K, with a price of $935.0 per contract. There were 1856 open contracts at this strike prior to today, and today 175 contract(s) were bought and sold.
• For HIG (NYSE:HIG), we notice a put option sweep that happens to be bearish, expiring in 71 day(s) on June 21, 2024. This event was a transfer of 158 contract(s) at a $95.00 strike. This particular put needed to be split into 18 different trades to become filled. The total cost received by the writing party (or parties) was $36.3K, with a price of $230.0 per contract. There were 466 open contracts at this strike prior to today, and today 168 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 news on unusual options activity.
This article was generated by Benzinga's automated content engine and reviewed by an editor.
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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