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.
Investors with a lot of money to spend have taken a bearish stance on United Rentals (NYSE:URI).
And retail traders should know.
We noticed this today when the trades 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 URI, it often means somebody knows something is about to happen.
So how do we know what these investors just did?
Today, Benzinga's options scanner spotted 9 uncommon options trades for United Rentals.
This isn't normal.
The overall sentiment of these big-money traders is split between 44% bullish and 55%, bearish.
Out of all of the special options we uncovered, 6 are puts, for a total amount of $281,965, and 3 are calls, for a total amount of $118,099.
Expected Price Movements
Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $190.0 to $720.0 for United Rentals over the recent three months.
Volume & Open Interest Development
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 United Rentals'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 United Rentals's whale trades within a strike price range from $190.0 to $720.0 in the last 30 days.
United Rentals Option Activity Analysis: Last 30 Days
Largest Options Trades Observed:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| URI | PUT | TRADE | NEUTRAL | 04/26/24 | $62.8 | $57.0 | $59.9 | $700.00 | $101.8K | 27 | 18 |
| URI | CALL | TRADE | BULLISH | 01/17/25 | $458.7 | $456.4 | $458.7 | $190.00 | $45.8K | 2 | 1 |
| URI | CALL | TRADE | BULLISH | 01/16/26 | $448.1 | $444.0 | $448.1 | $210.00 | $44.8K | 3 | 1 |
| URI | PUT | TRADE | BEARISH | 04/26/24 | $30.3 | $28.3 | $29.59 | $660.00 | $44.3K | 68 | 15 |
| URI | PUT | TRADE | BULLISH | 05/17/24 | $30.7 | $30.3 | $30.3 | $640.00 | $42.4K | 367 | 17 |
About United Rentals
United Rentals is the world's largest equipment rental company. It principally operates in the United States and Canada, where it commands approximately 15% share in a highly fragmented market. It serves three end markets: general industrial, commercial construction, and residential construction. Like its peers, United Rentals historically has provided its customers with equipment that was intermittently used, such as aerial equipment and portable generators. As the company has grown organically and through hundreds of acquisitions since it went public in 1997, its catalog (fleet size of $21 billion) now includes a range of specialty equipment and other items that can be rented for indefinitely long periods.
Following our analysis of the options activities associated with United Rentals, we pivot to a closer look at the company's own performance.
United Rentals's Current Market Status
- Trading volume stands at 322,439, with URI's price down by -2.22%, positioned at $641.39.
- RSI indicators show the stock to be may be oversold.
- Earnings announcement expected in 7 days.
What The Experts Say On United Rentals
Over the past month, 1 industry analysts have shared their insights on this stock, proposing an average target price of $790.0.
- An analyst from Goldman Sachs persists with their Buy rating on United Rentals, maintaining a target price of $790.
Options are a riskier asset compared to just trading the stock, but they have higher profit potential. Serious options traders manage this risk by educating themselves daily, scaling in and out of trades, following more than one indicator, and following the markets closely.
If you want to stay updated on the latest options trades for United Rentals, Benzinga Pro gives you real-time options trades alerts.
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.
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!