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 Iovance Biotherapeutics (NASDAQ:IOVA).
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 IOVA, it often means somebody knows something is about to happen.
Today, Benzinga's options scanner spotted 8 options trades for Iovance Biotherapeutics.
This isn't normal.
The overall sentiment of these big-money traders is split between 50% bullish and 37%, bearish.
Out of all of the options we uncovered, there was 1 put, for a total amount of $44,179, and 7, calls, for a total amount of $403,560.
Projected Price Targets
Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $6.0 to $15.0 for Iovance Biotherapeutics over the last 3 months.
Volume & Open Interest Development
In today's trading context, the average open interest for options of Iovance Biotherapeutics stands at 3011.6, with a total volume reaching 5,308.00. The accompanying chart delineates the progression of both call and put option volume and open interest for high-value trades in Iovance Biotherapeutics, situated within the strike price corridor from $6.0 to $15.0, throughout the last 30 days.
Iovance Biotherapeutics Option Volume And Open Interest Over 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| IOVA | CALL | SWEEP | BULLISH | 09/20/24 | $2.4 | $2.1 | $2.4 | $11.00 | $119.6K | 161 | 500 |
| IOVA | CALL | TRADE | BEARISH | 09/20/24 | $2.7 | $2.65 | $2.65 | $11.00 | $79.5K | 161 | 800 |
| IOVA | CALL | TRADE | NEUTRAL | 09/20/24 | $2.45 | $2.35 | $2.4 | $11.00 | $48.0K | 161 | 1.0K |
| IOVA | CALL | SWEEP | BULLISH | 01/17/25 | $2.25 | $2.2 | $2.25 | $15.00 | $45.0K | 5.9K | 535 |
| IOVA | CALL | TRADE | BEARISH | 01/17/25 | $2.35 | $2.25 | $2.25 | $15.00 | $45.0K | 5.9K | 0 |
About Iovance Biotherapeutics
Iovance Biotherapeutics Inc is a clinical-stage biopharmaceutical company, pioneering a transformational approach to treating cancer by harnessing the human immune system's ability to recognize and destroy diverse cancer cells using therapies personalized for each patient. The company is preparing for potential U.S. regulatory approvals and commercialization of the first autologous T-cell therapy to address a solid tumor cancer. its objective is to be the leader in innovating, developing, and delivering tumor-infiltrating lymphocyte, or TIL, therapies for patients with solid tumor cancers.
In light of the recent options history for Iovance Biotherapeutics, it's now appropriate to focus on the company itself. We aim to explore its current performance.
Current Position of Iovance Biotherapeutics
- Trading volume stands at 5,705,180, with IOVA's price down by -2.72%, positioned at $10.67.
- RSI indicators show the stock to be may be approaching oversold.
- Earnings announcement expected in 85 days.
What The Experts Say On Iovance Biotherapeutics
A total of 1 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $32.0.
- Reflecting concerns, an analyst from HC Wainwright & Co. lowers its rating to Buy with a new price target of $32.
Trading options involves greater risks but also offers the potential for higher profits. Savvy traders mitigate these risks through ongoing education, strategic trade adjustments, utilizing various indicators, and staying attuned to market dynamics. Keep up with the latest options trades for Iovance Biotherapeutics with Benzinga Pro for real-time 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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