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 Hess (NYSE:HES).
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 HES, 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 Hess.
This isn't normal.
The overall sentiment of these big-money traders is split between 55% bullish and 33%, bearish.
Out of all of the special options we uncovered, 3 are puts, for a total amount of $147,771, and 6 are calls, for a total amount of $525,943.
Projected Price Targets
Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $155.0 to $175.0 for Hess during the past quarter.
Analyzing Volume & Open Interest
Examining the volume and open interest provides crucial insights into stock research. This information is key in gauging liquidity and interest levels for Hess's options at certain strike prices. Below, we present a snapshot of the trends in volume and open interest for calls and puts across Hess's significant trades, within a strike price range of $155.0 to $175.0, over the past month.
Hess Option Volume And Open Interest Over Last 30 Days
Noteworthy Options Activity:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| HES | CALL | SWEEP | BULLISH | 05/31/24 | $2.55 | $2.5 | $2.5 | $165.00 | $164.2K | 1 | 1.3K |
| HES | CALL | TRADE | NEUTRAL | 06/21/24 | $2.8 | $0.0 | $1.4 | $175.00 | $140.0K | 2.7K | 0 |
| HES | CALL | SWEEP | BULLISH | 05/31/24 | $2.35 | $1.9 | $2.3 | $165.00 | $95.6K | 1 | 2.1K |
| HES | PUT | SWEEP | BULLISH | 05/10/24 | $0.85 | $0.85 | $0.85 | $155.00 | $94.9K | 23 | 1.1K |
| HES | CALL | SWEEP | BULLISH | 05/31/24 | $2.3 | $2.25 | $2.3 | $165.00 | $57.5K | 1 | 2.7K |
About Hess
Hess is an independent oil and gas producer with key assets in the Bakken Shale, Guyana, the Gulf of Mexico, and Southeast Asia. At the end of 2023, the company reported net proved reserves of 1.4 billion barrels of oil equivalent. Net production averaged 391 thousand barrels of oil equivalent per day in 2023, at a ratio of 74% oil and natural gas liquids and 26% natural gas.
In light of the recent options history for Hess, it's now appropriate to focus on the company itself. We aim to explore its current performance.
Where Is Hess Standing Right Now?
- Trading volume stands at 1,335,800, with HES's price up by 1.35%, positioned at $158.89.
- RSI indicators show the stock to be may be approaching overbought.
- Earnings announcement expected in 83 days.
What The Experts Say On Hess
2 market experts have recently issued ratings for this stock, with a consensus target price of $168.5.
- An analyst from Susquehanna has decided to maintain their Neutral rating on Hess, which currently sits at a price target of $164.
- An analyst from Piper Sandler has decided to maintain their Overweight rating on Hess, which currently sits at a price target of $173.
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 Hess, 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.
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