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 often look for circumstances when the market estimation of an option diverges away from its normal worth. Abnormal amounts of trading activity could push option prices to hyperbolic or underperforming levels.
Below are some instances of options activity happening in the Consumer Discretionary sector:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| TSLA | CALL | SWEEP | BULLISH | 04/12/24 | $177.50 | $28.2K | 18.4K | 59.7K |
| AMZN | PUT | TRADE | BEARISH | 04/19/24 | $190.00 | $29.5K | 1.3K | 2.6K |
| TPR | CALL | SWEEP | BULLISH | 05/10/24 | $44.00 | $125.9K | 0 | 1.1K |
| KMX | PUT | SWEEP | BULLISH | 04/12/24 | $80.00 | $41.4K | 5.5K | 762 |
| NKE | CALL | SWEEP | BULLISH | 10/18/24 | $90.00 | $57.0K | 934 | 629 |
| RIVN | CALL | SWEEP | BEARISH | 05/10/24 | $10.00 | $28.8K | 261 | 561 |
| SBUX | PUT | SWEEP | BEARISH | 09/20/24 | $100.00 | $427.7K | 505 | 304 |
| PDD | PUT | TRADE | BULLISH | 01/17/25 | $120.00 | $62.1K | 4.1K | 187 |
| APTV | CALL | SWEEP | BULLISH | 08/16/24 | $85.00 | $26.2K | 188 | 158 |
| ULTA | PUT | SWEEP | BEARISH | 06/20/25 | $420.00 | $31.9K | 5 | 52 |
Explanation
These bullet-by-bullet explanations have been constructed using the accompanying table.
• For TSLA (NASDAQ:TSLA), we notice a call option sweep that happens to be bullish, expiring in 1 day(s) on April 12, 2024. This event was a transfer of 575 contract(s) at a $177.50 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 $28.2K, with a price of $49.0 per contract. There were 18477 open contracts at this strike prior to today, and today 59794 contract(s) were bought and sold.
• For AMZN (NASDAQ:AMZN), 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 100 contract(s) at a $190.00 strike. The total cost received by the writing party (or parties) was $29.5K, with a price of $295.0 per contract. There were 1381 open contracts at this strike prior to today, and today 2604 contract(s) were bought and sold.
• For TPR (NYSE:TPR), we notice a call option sweep that happens to be bullish, expiring in 29 day(s) on May 10, 2024. This event was a transfer of 1145 contract(s) at a $44.00 strike. This particular call needed to be split into 43 different trades to become filled. The total cost received by the writing party (or parties) was $125.9K, with a price of $110.0 per contract. There were 0 open contracts at this strike prior to today, and today 1145 contract(s) were bought and sold.
• Regarding KMX (NYSE:KMX), we observe a put option sweep with bullish sentiment. It expires in 1 day(s) on April 12, 2024. Parties traded 46 contract(s) at a $80.00 strike. This particular put needed to be split into 6 different trades to become filled. The total cost received by the writing party (or parties) was $41.4K, with a price of $900.0 per contract. There were 5530 open contracts at this strike prior to today, and today 762 contract(s) were bought and sold.
• For NKE (NYSE:NKE), we notice a call option sweep that happens to be bullish, expiring in 190 day(s) on October 18, 2024. This event was a transfer of 61 contract(s) at a $90.00 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 $57.0K, with a price of $935.0 per contract. There were 934 open contracts at this strike prior to today, and today 629 contract(s) were bought and sold.
• For RIVN (NASDAQ:RIVN), we notice a call option sweep that happens to be bearish, expiring in 29 day(s) on May 10, 2024. This event was a transfer of 300 contract(s) at a $10.00 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 $28.8K, with a price of $96.0 per contract. There were 261 open contracts at this strike prior to today, and today 561 contract(s) were bought and sold.
• For SBUX (NASDAQ:SBUX), we notice a put option sweep that happens to be bearish, expiring in 162 day(s) on September 20, 2024. This event was a transfer of 292 contract(s) at a $100.00 strike. This particular put needed to be split into 10 different trades to become filled. The total cost received by the writing party (or parties) was $427.7K, with a price of $1465.0 per contract. There were 505 open contracts at this strike prior to today, and today 304 contract(s) were bought and sold.
• Regarding PDD (NASDAQ:PDD), we observe a put option trade with bullish sentiment. It expires in 281 day(s) on January 17, 2025. Parties traded 36 contract(s) at a $120.00 strike. The total cost received by the writing party (or parties) was $62.1K, with a price of $1725.0 per contract. There were 4133 open contracts at this strike prior to today, and today 187 contract(s) were bought and sold.
• Regarding APTV (NYSE:APTV), we observe a call option sweep with bullish sentiment. It expires in 127 day(s) on August 16, 2024. Parties traded 75 contract(s) at a $85.00 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 $26.2K, with a price of $350.0 per contract. There were 188 open contracts at this strike prior to today, and today 158 contract(s) were bought and sold.
• Regarding ULTA (NASDAQ:ULTA), we observe a put option sweep with bearish sentiment. It expires in 435 day(s) on June 20, 2025. Parties traded 9 contract(s) at a $420.00 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 $31.9K, with a price of $3557.0 per contract. There were 5 open contracts at this strike prior to today, and today 52 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.
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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