20-Year Pro Trader Reveals His "MoneyLine"
Ditch your indicators and use the "MoneyLine". A simple line tells you when to buy and sell without the guesswork. It’s a line on a chart that’s helped Nic Chahine win 83% of his options buys. Here's how he does it.
Investors with a lot of money to spend have taken a bullish stance on AppLovin (NASDAQ:APP).
And retail traders should know.
We noticed this today when the positions 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 APP, it often means somebody knows something is about to happen.
Today, Benzinga's options scanner spotted 8 options trades for AppLovin.
This isn't normal.
The overall sentiment of these big-money traders is split between 50% bullish and 50%, bearish.
Out of all of the options we uncovered, there was 1 put, for a total amount of $42,000, and 7, calls, for a total amount of $307,882.
Expected Price Movements
After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $50.0 and $90.0 for AppLovin, spanning the last three months.
Volume & Open Interest Trends
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 AppLovin'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 AppLovin's whale trades within a strike price range from $50.0 to $90.0 in the last 30 days.
AppLovin 30-Day Option Volume & Interest Snapshot
Biggest Options Spotted:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| APP | CALL | TRADE | BULLISH | 05/10/24 | $4.9 | $4.4 | $4.7 | $81.00 | $66.2K | 774 | 0 |
| APP | CALL | TRADE | BEARISH | 05/17/24 | $4.2 | $3.9 | $4.0 | $85.00 | $64.0K | 3.3K | 1 |
| APP | CALL | TRADE | BULLISH | 04/19/24 | $21.3 | $21.2 | $21.3 | $55.00 | $48.9K | 812 | 2 |
| APP | PUT | SWEEP | BEARISH | 04/19/24 | $4.2 | $3.9 | $4.2 | $80.00 | $42.0K | 16 | 1 |
| APP | CALL | TRADE | BEARISH | 06/21/24 | $28.7 | $27.1 | $27.73 | $50.00 | $38.8K | 3 | 14 |
About AppLovin
AppLovin Corp is a mobile app technology company. It focuses on growing the mobile app ecosystem by enabling the success of mobile app developers. The company's software solutions provide tools for mobile app developers to grow their businesses by automating and optimizing the marketing and monetization of their applications.
After a thorough review of the options trading surrounding AppLovin, we move to examine the company in more detail. This includes an assessment of its current market status and performance.
Current Position of AppLovin
- With a trading volume of 381,171, the price of APP is down by -2.01%, reaching $76.67.
- Current RSI values indicate that the stock is may be overbought.
- Next earnings report is scheduled for 26 days from now.
Expert Opinions on AppLovin
Over the past month, 3 industry analysts have shared their insights on this stock, proposing an average target price of $86.33333333333333.
- Maintaining their stance, an analyst from BTIG continues to hold a Buy rating for AppLovin, targeting a price of $87.
- An analyst from Oppenheimer persists with their Outperform rating on AppLovin, maintaining a target price of $85.
- An analyst from Wedbush persists with their Outperform rating on AppLovin, maintaining a target price of $87.
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 AppLovin with Benzinga Pro for real-time alerts.
20-Year Pro Trader Reveals His "MoneyLine"
Ditch your indicators and use the "MoneyLine". A simple line tells you when to buy and sell without the guesswork. It’s a line on a chart that’s helped Nic Chahine win 83% of his options buys. Here's how he does it.
ENTER TO WIN $500 IN STOCK OR CRYPTO
Enter your email and you'll also get Benzinga's ultimate morning update AND a free $30 gift card and more!