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 bullish stance on LyondellBasell Industries (NYSE:LYB).
And retail traders should know.
We noticed this today when the positions 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 LYB, it often means somebody knows something is about to happen.
Today, Benzinga's options scanner spotted 10 options trades for LyondellBasell Industries.
This isn't normal.
The overall sentiment of these big-money traders is split between 50% bullish and 50%, bearish.
Out of all of the options we uncovered, there was 1 put, for a total amount of $29,970, and 9, calls, for a total amount of $633,182.
Predicted Price Range
Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $95.0 to $100.0 for LyondellBasell Industries during the past quarter.
Insights into Volume & Open Interest
In today's trading context, the average open interest for options of LyondellBasell Industries stands at 446.75, with a total volume reaching 4,081.00. The accompanying chart delineates the progression of both call and put option volume and open interest for high-value trades in LyondellBasell Industries, situated within the strike price corridor from $95.0 to $100.0, throughout the last 30 days.
LyondellBasell Industries Call and Put Volume: 30-Day Overview
Significant Options Trades Detected:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| LYB | CALL | SWEEP | BULLISH | 04/19/24 | $4.6 | $4.4 | $4.6 | $95.00 | $138.0K | 896 | 297 |
| LYB | CALL | TRADE | NEUTRAL | 04/19/24 | $4.8 | $4.4 | $4.6 | $95.00 | $136.1K | 896 | 1 |
| LYB | CALL | TRADE | BULLISH | 05/17/24 | $6.0 | $5.8 | $6.0 | $95.00 | $119.4K | 20 | 310 |
| LYB | CALL | SWEEP | BEARISH | 05/17/24 | $6.0 | $5.9 | $5.9 | $95.00 | $61.3K | 20 | 622 |
| LYB | CALL | SWEEP | NEUTRAL | 04/19/24 | $4.7 | $4.4 | $4.6 | $95.00 | $45.9K | 896 | 697 |
About LyondellBasell Industries
LyondellBasell is a petrochemical producer with operations in the United States, Europe, and Asia. The company is the world's largest producer of polypropylene and is also a major producer of polyethylene and propylene oxide. Its chemicals are used in various consumer and industrial end products. Well over half of LyondellBasell's production comes from its North American operations.
Having examined the options trading patterns of LyondellBasell Industries, our attention now turns directly to the company. This shift allows us to delve into its present market position and performance
Where Is LyondellBasell Industries Standing Right Now?
- With a volume of 778,285, the price of LYB is down -0.52% at $99.18.
- RSI indicators hint that the underlying stock is currently neutral between overbought and oversold.
- Next earnings are expected to be released in 8 days.
What The Experts Say On LyondellBasell Industries
In the last month, 4 experts released ratings on this stock with an average target price of $106.5.
- An analyst from Wells Fargo has decided to maintain their Overweight rating on LyondellBasell Industries, which currently sits at a price target of $117.
- An analyst from Citigroup persists with their Neutral rating on LyondellBasell Industries, maintaining a target price of $104.
- An analyst from JP Morgan has decided to maintain their Overweight rating on LyondellBasell Industries, which currently sits at a price target of $105.
- An analyst from Barclays has decided to maintain their Equal-Weight rating on LyondellBasell Industries, which currently sits at a price target of $100.
Options trading presents higher risks and potential rewards. Astute traders manage these risks by continually educating themselves, adapting their strategies, monitoring multiple indicators, and keeping a close eye on market movements. Stay informed about the latest LyondellBasell Industries options trades with real-time alerts from Benzinga Pro.
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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