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 Industrials sector:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| DAY | CALL | SWEEP | BEARISH | 05/17/24 | $65.00 | $44.1K | 10.1K | 2.9K |
| ARRY | PUT | TRADE | NEUTRAL | 11/15/24 | $12.50 | $480.0K | 206 | 1.6K |
| BA | PUT | TRADE | BEARISH | 11/15/24 | $170.00 | $46.3K | 520 | 769 |
| ALK | CALL | TRADE | BULLISH | 04/19/24 | $40.00 | $137.5K | 2.6K | 581 |
| UPS | PUT | SWEEP | BEARISH | 04/19/24 | $149.00 | $26.4K | 564 | 203 |
| STRL | PUT | TRADE | NEUTRAL | 05/17/24 | $90.00 | $56.1K | 37 | 170 |
| LYFT | PUT | SWEEP | BEARISH | 05/17/24 | $20.00 | $26.9K | 635 | 99 |
| NXT | CALL | TRADE | NEUTRAL | 10/18/24 | $45.00 | $47.8K | 197 | 70 |
| ETN | CALL | TRADE | NEUTRAL | 10/18/24 | $340.00 | $28.1K | 633 | 45 |
| SNA | CALL | TRADE | BULLISH | 11/15/24 | $290.00 | $49.0K | 78 | 25 |
Explanation
These bullet-by-bullet explanations have been constructed using the accompanying table.
• Regarding DAY (NYSE:DAY), we observe a call option sweep with bearish sentiment. It expires in 30 day(s) on May 17, 2024. Parties traded 138 contract(s) at a $65.00 strike. This particular call needed to be split into 3 different trades to become filled. The total cost received by the writing party (or parties) was $44.1K, with a price of $320.0 per contract. There were 10183 open contracts at this strike prior to today, and today 2961 contract(s) were bought and sold.
• For ARRY (NASDAQ:ARRY), we notice a put option trade that happens to be neutral, expiring in 212 day(s) on November 15, 2024. This event was a transfer of 1600 contract(s) at a $12.50 strike. The total cost received by the writing party (or parties) was $480.0K, with a price of $300.0 per contract. There were 206 open contracts at this strike prior to today, and today 1603 contract(s) were bought and sold.
• For BA (NYSE:BA), we notice a put option trade that happens to be bearish, expiring in 212 day(s) on November 15, 2024. This event was a transfer of 30 contract(s) at a $170.00 strike. The total cost received by the writing party (or parties) was $46.3K, with a price of $1545.0 per contract. There were 520 open contracts at this strike prior to today, and today 769 contract(s) were bought and sold.
• Regarding ALK (NYSE:ALK), we observe a call option trade with bullish sentiment. It expires in 2 day(s) on April 19, 2024. Parties traded 500 contract(s) at a $40.00 strike. The total cost received by the writing party (or parties) was $137.5K, with a price of $275.0 per contract. There were 2698 open contracts at this strike prior to today, and today 581 contract(s) were bought and sold.
• Regarding UPS (NYSE:UPS), we observe a put option sweep with bearish sentiment. It expires in 2 day(s) on April 19, 2024. Parties traded 42 contract(s) at a $149.00 strike. This particular put needed to be split into 3 different trades to become filled. The total cost received by the writing party (or parties) was $26.4K, with a price of $630.0 per contract. There were 564 open contracts at this strike prior to today, and today 203 contract(s) were bought and sold.
• Regarding STRL (NASDAQ:STRL), we observe a put option trade with neutral sentiment. It expires in 30 day(s) on May 17, 2024. Parties traded 170 contract(s) at a $90.00 strike. The total cost received by the writing party (or parties) was $56.1K, with a price of $330.0 per contract. There were 37 open contracts at this strike prior to today, and today 170 contract(s) were bought and sold.
• Regarding LYFT (NASDAQ:LYFT), we observe a put option sweep with bearish sentiment. It expires in 30 day(s) on May 17, 2024. Parties traded 78 contract(s) at a $20.00 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 $26.9K, with a price of $345.0 per contract. There were 635 open contracts at this strike prior to today, and today 99 contract(s) were bought and sold.
• For NXT (NASDAQ:NXT), we notice a call option trade that happens to be neutral, expiring in 184 day(s) on October 18, 2024. This event was a transfer of 70 contract(s) at a $45.00 strike. The total cost received by the writing party (or parties) was $47.8K, with a price of $684.0 per contract. There were 197 open contracts at this strike prior to today, and today 70 contract(s) were bought and sold.
• Regarding ETN (NYSE:ETN), we observe a call option trade with neutral sentiment. It expires in 184 day(s) on October 18, 2024. Parties traded 19 contract(s) at a $340.00 strike. The total cost received by the writing party (or parties) was $28.1K, with a price of $1480.0 per contract. There were 633 open contracts at this strike prior to today, and today 45 contract(s) were bought and sold.
• For SNA (NYSE:SNA), we notice a call option trade that happens to be bullish, expiring in 212 day(s) on November 15, 2024. This event was a transfer of 25 contract(s) at a $290.00 strike. The total cost received by the writing party (or parties) was $49.0K, with a price of $1960.0 per contract. There were 78 open contracts at this strike prior to today, and today 25 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 about 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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