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 Information Technology sector:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| NVDA | PUT | SWEEP | NEUTRAL | 04/12/24 | $885.00 | $59.6K | 5.5K | 38.2K |
| SEDG | PUT | SWEEP | BEARISH | 05/17/24 | $65.00 | $104.7K | 667 | 3.0K |
| MARA | PUT | SWEEP | BEARISH | 04/19/24 | $16.00 | $58.2K | 8.0K | 1.8K |
| SNOW | PUT | SWEEP | NEUTRAL | 04/19/24 | $155.00 | $26.5K | 2.5K | 800 |
| ENPH | PUT | TRADE | BEARISH | 04/12/24 | $120.00 | $25.2K | 477 | 693 |
| CLSK | PUT | TRADE | NEUTRAL | 01/17/25 | $25.00 | $701.4K | 142 | 501 |
| MSFT | PUT | SWEEP | BEARISH | 04/26/24 | $400.00 | $44.4K | 1.5K | 392 |
| ZS | CALL | TRADE | BULLISH | 09/20/24 | $180.00 | $39.8K | 57 | 386 |
| AMD | PUT | SWEEP | BEARISH | 06/21/24 | $135.00 | $81.2K | 3.9K | 313 |
| AI | CALL | SWEEP | BEARISH | 10/18/24 | $35.00 | $31.2K | 281 | 250 |
Explanation
These bullet-by-bullet explanations have been constructed using the accompanying table.
• For NVDA (NASDAQ:NVDA), we notice a put option sweep that happens to be neutral, is expiring today. Parties traded 150 contract(s) at a $885.00 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 $59.6K, with a price of $395.0 per contract. There were 5545 open contracts at this strike prior to today, and today 38223 contract(s) were bought and sold.
• Regarding SEDG (NASDAQ:SEDG), we observe a put option sweep with bearish sentiment. It expires in 35 day(s) on May 17, 2024. Parties traded 136 contract(s) at a $65.00 strike. This particular put needed to be split into 7 different trades to become filled. The total cost received by the writing party (or parties) was $104.7K, with a price of $770.0 per contract. There were 667 open contracts at this strike prior to today, and today 3066 contract(s) were bought and sold.
• For MARA (NASDAQ:MARA), we notice a put option sweep that happens to be bearish, expiring in 7 day(s) on April 19, 2024. This event was a transfer of 756 contract(s) at a $16.00 strike. This particular put needed to be split into 35 different trades to become filled. The total cost received by the writing party (or parties) was $58.2K, with a price of $77.0 per contract. There were 8036 open contracts at this strike prior to today, and today 1880 contract(s) were bought and sold.
• Regarding SNOW (NYSE:SNOW), we observe a put option sweep with neutral sentiment. It expires in 7 day(s) on April 19, 2024. Parties traded 120 contract(s) at a $155.00 strike. This particular put needed to be split into 9 different trades to become filled. The total cost received by the writing party (or parties) was $26.5K, with a price of $222.0 per contract. There were 2513 open contracts at this strike prior to today, and today 800 contract(s) were bought and sold.
• For ENPH (NASDAQ:ENPH), we notice a put option trade that happens to be bearish, is expiring today. Parties traded 70 contract(s) at a $120.00 strike. The total cost received by the writing party (or parties) was $25.2K, with a price of $360.0 per contract. There were 477 open contracts at this strike prior to today, and today 693 contract(s) were bought and sold.
• Regarding CLSK (NASDAQ:CLSK), we observe a put option trade with neutral sentiment. It expires in 280 day(s) on January 17, 2025. Parties traded 494 contract(s) at a $25.00 strike. The total cost received by the writing party (or parties) was $701.4K, with a price of $1420.0 per contract. There were 142 open contracts at this strike prior to today, and today 501 contract(s) were bought and sold.
• For MSFT (NASDAQ:MSFT), we notice a put option sweep that happens to be bearish, expiring in 14 day(s) on April 26, 2024. This event was a transfer of 107 contract(s) at a $400.00 strike. This particular put needed to be split into 22 different trades to become filled. The total cost received by the writing party (or parties) was $44.4K, with a price of $415.0 per contract. There were 1546 open contracts at this strike prior to today, and today 392 contract(s) were bought and sold.
• Regarding ZS (NASDAQ:ZS), we observe a call option trade with bullish sentiment. It expires in 161 day(s) on September 20, 2024. Parties traded 16 contract(s) at a $180.00 strike. The total cost received by the writing party (or parties) was $39.8K, with a price of $2490.0 per contract. There were 57 open contracts at this strike prior to today, and today 386 contract(s) were bought and sold.
• For AMD (NASDAQ:AMD), we notice a put option sweep that happens to be bearish, expiring in 70 day(s) on June 21, 2024. This event was a transfer of 250 contract(s) at a $135.00 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 $81.2K, with a price of $325.0 per contract. There were 3954 open contracts at this strike prior to today, and today 313 contract(s) were bought and sold.
• Regarding AI (NYSE:AI), we observe a call option sweep with bearish sentiment. It expires in 189 day(s) on October 18, 2024. Parties traded 214 contract(s) at a $35.00 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 $31.2K, with a price of $146.0 per contract. There were 281 open contracts at this strike prior to today, and today 250 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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