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.
Deep-pocketed investors have adopted a bearish approach towards Domino's Pizza (NYSE:DPZ), and it's something market players shouldn't ignore. Our tracking of public options records at Benzinga unveiled this significant move today. The identity of these investors remains unknown, but such a substantial move in DPZ usually suggests something big is about to happen.
We gleaned this information from our observations today when Benzinga's options scanner highlighted 15 extraordinary options activities for Domino's Pizza. This level of activity is out of the ordinary.
The general mood among these heavyweight investors is divided, with 6% leaning bullish and 93% bearish. Among these notable options, 8 are puts, totaling $417,630, and 7 are calls, amounting to $409,037.
Projected Price Targets
Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $470.0 to $510.0 for Domino's Pizza over the last 3 months.
Insights into Volume & Open Interest
Looking at the volume and open interest is an insightful way to conduct due diligence on a stock.
This data can help you track the liquidity and interest for Domino's Pizza'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 Domino's Pizza's whale activity within a strike price range from $470.0 to $510.0 in the last 30 days.
Domino's Pizza Option Activity Analysis: Last 30 Days
Significant Options Trades Detected:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| DPZ | CALL | SWEEP | BEARISH | 06/21/24 | $21.3 | $21.1 | $21.1 | $510.00 | $88.7K | 156 | 106 |
| DPZ | CALL | SWEEP | BEARISH | 06/21/24 | $21.6 | $21.4 | $21.4 | $510.00 | $85.8K | 156 | 30 |
| DPZ | CALL | SWEEP | BEARISH | 06/21/24 | $20.7 | $20.2 | $20.2 | $510.00 | $83.0K | 156 | 344 |
| DPZ | PUT | TRADE | BEARISH | 09/20/24 | $25.7 | $24.8 | $25.5 | $480.00 | $66.3K | 10 | 47 |
| DPZ | PUT | TRADE | BEARISH | 09/20/24 | $25.7 | $24.2 | $25.4 | $480.00 | $60.9K | 10 | 107 |
About Domino's Pizza
Domino's is a restaurant operator and franchiser with nearly 20,600 global stores across more than 90 international markets at the end of 2023. The firm generates revenue through the sales of pizza, wings, salads, sandwiches, and desserts at company-owned stores, royalty and marketing contributions from franchise-operated stores, and its network of 25 domestic (and five Canadian) dough manufacturing and supply chain facilities, which centralize purchasing, preparation, and last-mile delivery for the firm's U.S. and Canadian restaurants. With roughly $18.3 billion in 2023 system sales, Domino's is the largest player in the global pizza market, ahead of Pizza Hut, Little Caesars, and Papa John's.
Following our analysis of the options activities associated with Domino's Pizza, we pivot to a closer look at the company's own performance.
Where Is Domino's Pizza Standing Right Now?
- Currently trading with a volume of 157,938, the DPZ's price is down by -1.47%, now at $497.12.
- RSI readings suggest the stock is currently is currently neutral between overbought and oversold.
- Anticipated earnings release is in 17 days.
What The Experts Say On Domino's Pizza
Over the past month, 5 industry analysts have shared their insights on this stock, proposing an average target price of $519.8.
- Consistent in their evaluation, an analyst from TD Cowen keeps a Buy rating on Domino's Pizza with a target price of $550.
- An analyst from Stephens & Co. has revised its rating downward to Equal-Weight, adjusting the price target to $479.
- An analyst from TD Cowen downgraded its action to Buy with a price target of $550.
- An analyst from Citigroup persists with their Neutral rating on Domino's Pizza, maintaining a target price of $505.
- Maintaining their stance, an analyst from Morgan Stanley continues to hold a Overweight rating for Domino's Pizza, targeting a price of $515.
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 Domino's Pizza 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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