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.
Here's the list of options activity happening in today's session:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| HOOD | CALL | TRADE | BULLISH | 05/17/24 | $15.00 | $431.2K | 13.9K | 8.8K |
| WFC | PUT | SWEEP | BULLISH | 07/19/24 | $60.00 | $55.0K | 159 | 1.6K |
| GL | PUT | SWEEP | BULLISH | 04/19/24 | $55.00 | $30.9K | 394 | 1.4K |
| BAC | CALL | SWEEP | BULLISH | 01/17/25 | $37.00 | $68.4K | 41.3K | 1.3K |
| GS | PUT | TRADE | NEUTRAL | 04/26/24 | $395.00 | $41.5K | 98 | 776 |
| BX | PUT | TRADE | BULLISH | 05/17/24 | $125.00 | $1.5 million | 5.4K | 552 |
| CMA | PUT | SWEEP | BEARISH | 04/19/24 | $50.00 | $69.5K | 1.2K | 64 |
| COIN | CALL | TRADE | BEARISH | 01/17/25 | $200.00 | $39.5K | 2.3K | 9 |
Explanation
These bullet-by-bullet explanations have been constructed using the accompanying table.
• Regarding HOOD (NASDAQ:HOOD), we observe a call option trade with bullish sentiment. It expires in 32 day(s) on May 17, 2024. Parties traded 1540 contract(s) at a $15.00 strike. The total cost received by the writing party (or parties) was $431.2K, with a price of $280.0 per contract. There were 13906 open contracts at this strike prior to today, and today 8814 contract(s) were bought and sold.
• For WFC (NYSE:WFC), we notice a put option sweep that happens to be bullish, expiring in 95 day(s) on July 19, 2024. This event was a transfer of 125 contract(s) at a $60.00 strike. This particular put needed to be split into 13 different trades to become filled. The total cost received by the writing party (or parties) was $55.0K, with a price of $440.0 per contract. There were 159 open contracts at this strike prior to today, and today 1611 contract(s) were bought and sold.
• Regarding GL (NYSE:GL), we observe a put option sweep with bullish sentiment. It expires in 4 day(s) on April 19, 2024. Parties traded 103 contract(s) at a $55.00 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 $30.9K, with a price of $300.0 per contract. There were 394 open contracts at this strike prior to today, and today 1482 contract(s) were bought and sold.
• For BAC (NYSE:BAC), we notice a call option sweep that happens to be bullish, expiring in 277 day(s) on January 17, 2025. This event was a transfer of 218 contract(s) at a $37.00 strike. This particular call needed to be split into 18 different trades to become filled. The total cost received by the writing party (or parties) was $68.4K, with a price of $314.0 per contract. There were 41370 open contracts at this strike prior to today, and today 1385 contract(s) were bought and sold.
• Regarding GS (NYSE:GS), we observe a put option trade with neutral sentiment. It expires in 11 day(s) on April 26, 2024. Parties traded 90 contract(s) at a $395.00 strike. The total cost received by the writing party (or parties) was $41.5K, with a price of $462.0 per contract. There were 98 open contracts at this strike prior to today, and today 776 contract(s) were bought and sold.
• For BX (NYSE:BX), we notice a put option trade that happens to be bullish, expiring in 32 day(s) on May 17, 2024. This event was a transfer of 2000 contract(s) at a $125.00 strike. The total cost received by the writing party (or parties) was $1.5 million, with a price of $770.0 per contract. There were 5460 open contracts at this strike prior to today, and today 552 contract(s) were bought and sold.
• Regarding CMA (NYSE:CMA), we observe a put option sweep with bearish sentiment. It expires in 4 day(s) on April 19, 2024. Parties traded 500 contract(s) at a $50.00 strike. This particular put needed to be split into 4 different trades to become filled. The total cost received by the writing party (or parties) was $69.5K, with a price of $140.0 per contract. There were 1254 open contracts at this strike prior to today, and today 64 contract(s) were bought and sold.
• Regarding COIN (NASDAQ:COIN), we observe a call option trade with bearish sentiment. It expires in 277 day(s) on January 17, 2025. Parties traded 5 contract(s) at a $200.00 strike. The total cost received by the writing party (or parties) was $39.5K, with a price of $7905.0 per contract. There were 2321 open contracts at this strike prior to today, and today 9 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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