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.
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.
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 |
|---|---|---|---|---|---|---|---|---|
| AMD | PUT | SWEEP | BULLISH | 04/19/24 | $155.00 | $30.9K | 14.2K | 24.5K |
| NVDA | PUT | TRADE | BULLISH | 04/19/24 | $880.00 | $26.2K | 4.3K | 16.5K |
| CRM | PUT | SWEEP | BULLISH | 04/19/24 | $275.00 | $100.6K | 967 | 1.6K |
| BILL | PUT | SWEEP | BULLISH | 06/21/24 | $45.00 | $112.6K | 472 | 1.3K |
| MU | CALL | TRADE | BULLISH | 05/17/24 | $100.00 | $216.5K | 7.9K | 915 |
| SMCI | CALL | TRADE | BULLISH | 04/19/24 | $900.00 | $68.8K | 1.0K | 880 |
| SNOW | CALL | TRADE | BULLISH | 05/17/24 | $155.00 | $38.2K | 772 | 865 |
| ALAB | PUT | TRADE | BEARISH | 04/19/24 | $75.00 | $43.0K | 406 | 760 |
| AMAT | CALL | SWEEP | BEARISH | 04/26/24 | $215.00 | $151.8K | 474 | 491 |
| WDC | CALL | SWEEP | NEUTRAL | 05/17/24 | $70.00 | $171.4K | 7.6K | 409 |
Explanation
These itemized elaborations have been created using the accompanying table.
• For AMD (NASDAQ:AMD), we notice a put option sweep that happens to be bullish, expiring in 4 day(s) on April 19, 2024. This event was a transfer of 164 contract(s) at a $155.00 strike. This particular put needed to be split into 5 different trades to become filled. The total cost received by the writing party (or parties) was $30.9K, with a price of $189.0 per contract. There were 14285 open contracts at this strike prior to today, and today 24511 contract(s) were bought and sold.
• For NVDA (NASDAQ:NVDA), we notice a put option trade that happens to be bullish, expiring in 4 day(s) on April 19, 2024. This event was a transfer of 10 contract(s) at a $880.00 strike. The total cost received by the writing party (or parties) was $26.2K, with a price of $2621.0 per contract. There were 4337 open contracts at this strike prior to today, and today 16576 contract(s) were bought and sold.
• For CRM (NYSE:CRM), we notice a put option sweep that happens to be bullish, expiring in 4 day(s) on April 19, 2024. This event was a transfer of 254 contract(s) at a $275.00 strike. This particular put needed to be split into 21 different trades to become filled. The total cost received by the writing party (or parties) was $100.6K, with a price of $401.0 per contract. There were 967 open contracts at this strike prior to today, and today 1661 contract(s) were bought and sold.
• Regarding BILL (NYSE:BILL), we observe a put option sweep with bullish sentiment. It expires in 67 day(s) on June 21, 2024. Parties traded 979 contract(s) at a $45.00 strike. This particular put needed to be split into 43 different trades to become filled. The total cost received by the writing party (or parties) was $112.6K, with a price of $115.0 per contract. There were 472 open contracts at this strike prior to today, and today 1386 contract(s) were bought and sold.
• Regarding MU (NASDAQ:MU), we observe a call option trade with bullish sentiment. It expires in 32 day(s) on May 17, 2024. Parties traded 98 contract(s) at a $100.00 strike. The total cost received by the writing party (or parties) was $216.5K, with a price of $2210.0 per contract. There were 7999 open contracts at this strike prior to today, and today 915 contract(s) were bought and sold.
• For SMCI (NASDAQ:SMCI), we notice a call option trade that happens to be bullish, expiring in 4 day(s) on April 19, 2024. This event was a transfer of 20 contract(s) at a $900.00 strike. The total cost received by the writing party (or parties) was $68.8K, with a price of $3440.0 per contract. There were 1030 open contracts at this strike prior to today, and today 880 contract(s) were bought and sold.
• Regarding SNOW (NYSE:SNOW), we observe a call option trade with bullish sentiment. It expires in 32 day(s) on May 17, 2024. Parties traded 55 contract(s) at a $155.00 strike. The total cost received by the writing party (or parties) was $38.2K, with a price of $695.0 per contract. There were 772 open contracts at this strike prior to today, and today 865 contract(s) were bought and sold.
• For ALAB (NASDAQ:ALAB), we notice a put option trade that happens to be bearish, expiring in 4 day(s) on April 19, 2024. This event was a transfer of 100 contract(s) at a $75.00 strike. The total cost received by the writing party (or parties) was $43.0K, with a price of $430.0 per contract. There were 406 open contracts at this strike prior to today, and today 760 contract(s) were bought and sold.
• Regarding AMAT (NASDAQ:AMAT), we observe a call option sweep with bearish sentiment. It expires in 11 day(s) on April 26, 2024. Parties traded 506 contract(s) at a $215.00 strike. This particular call needed to be split into 292 different trades to become filled. The total cost received by the writing party (or parties) was $151.8K, with a price of $299.0 per contract. There were 474 open contracts at this strike prior to today, and today 491 contract(s) were bought and sold.
• For WDC (NASDAQ:WDC), we notice a call option sweep that happens to be neutral, expiring in 32 day(s) on May 17, 2024. This event was a transfer of 381 contract(s) at a $70.00 strike. This particular call needed to be split into 15 different trades to become filled. The total cost received by the writing party (or parties) was $171.4K, with a price of $450.0 per contract. There were 7602 open contracts at this strike prior to today, and today 409 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.
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.
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