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 Financials sector:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| BAC | PUT | SWEEP | BEARISH | 09/08/23 | $28.00 | $27.9K | 959 | 2.3K |
| SCHW | PUT | SWEEP | BEARISH | 09/22/23 | $58.00 | $76.3K | 55 | 1.2K |
| ZION | CALL | SWEEP | BEARISH | 01/19/24 | $42.50 | $140.0K | 3.6K | 747 |
| MS | PUT | TRADE | BULLISH | 01/17/25 | $87.50 | $803.6K | 2.8K | 724 |
| C | PUT | TRADE | BULLISH | 09/08/23 | $43.00 | $25.8K | 390 | 450 |
| COIN | PUT | SWEEP | NEUTRAL | 08/25/23 | $85.00 | $37.3K | 284 | 299 |
| AIG | PUT | TRADE | BULLISH | 08/18/23 | $59.00 | $26.2K | 346 | 284 |
| LMND | CALL | SWEEP | BULLISH | 07/19/24 | $20.00 | $61.2K | 46 | 250 |
| PNC | PUT | TRADE | BEARISH | 01/17/25 | $125.00 | $89.0K | 78 | 60 |
| AXP | PUT | SWEEP | BEARISH | 01/17/25 | $175.00 | $28.9K | 367 | 17 |
Explanation
These bullet-by-bullet explanations have been constructed using the accompanying table.
• Regarding BAC BAC, we observe a put option sweep with bearish sentiment. It expires in 21 day(s) on September 8, 2023. Parties traded 775 contract(s) at a $28.00 strike. This particular put needed to be split into 9 different trades to become filled. The total cost received by the writing party (or parties) was $27.9K, with a price of $36.0 per contract. There were 959 open contracts at this strike prior to today, and today 2342 contract(s) were bought and sold.
• Regarding SCHW SCHW, we observe a put option sweep with bearish sentiment. It expires in 35 day(s) on September 22, 2023. Parties traded 480 contract(s) at a $58.00 strike. This particular put needed to be split into 32 different trades to become filled. The total cost received by the writing party (or parties) was $76.3K, with a price of $159.0 per contract. There were 55 open contracts at this strike prior to today, and today 1255 contract(s) were bought and sold.
• For ZION ZION, we notice a call option sweep that happens to be bearish, expiring in 154 day(s) on January 19, 2024. This event was a transfer of 718 contract(s) at a $42.50 strike. This particular call needed to be split into 38 different trades to become filled. The total cost received by the writing party (or parties) was $140.0K, with a price of $195.0 per contract. There were 3686 open contracts at this strike prior to today, and today 747 contract(s) were bought and sold.
• Regarding MS MS, we observe a put option trade with bullish sentiment. It expires in 518 day(s) on January 17, 2025. Parties traded 724 contract(s) at a $87.50 strike. The total cost received by the writing party (or parties) was $803.6K, with a price of $1110.0 per contract. There were 2875 open contracts at this strike prior to today, and today 724 contract(s) were bought and sold.
• For C C, we notice a put option trade that happens to be bullish, expiring in 21 day(s) on September 8, 2023. This event was a transfer of 200 contract(s) at a $43.00 strike. The total cost received by the writing party (or parties) was $25.8K, with a price of $129.0 per contract. There were 390 open contracts at this strike prior to today, and today 450 contract(s) were bought and sold.
• For COIN COIN, we notice a put option sweep that happens to be neutral, expiring in 7 day(s) on August 25, 2023. This event was a transfer of 30 contract(s) at a $85.00 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 $37.3K, with a price of $1244.0 per contract. There were 284 open contracts at this strike prior to today, and today 299 contract(s) were bought and sold.
• For AIG AIG, we notice a put option trade that happens to be bullish, is expiring today. Parties traded 250 contract(s) at a $59.00 strike. The total cost received by the writing party (or parties) was $26.2K, with a price of $105.0 per contract. There were 346 open contracts at this strike prior to today, and today 284 contract(s) were bought and sold.
• Regarding LMND LMND, we observe a call option sweep with bullish sentiment. It expires in 336 day(s) on July 19, 2024. Parties traded 250 contract(s) at a $20.00 strike. This particular call needed to be split into 6 different trades to become filled. The total cost received by the writing party (or parties) was $61.2K, with a price of $245.0 per contract. There were 46 open contracts at this strike prior to today, and today 250 contract(s) were bought and sold.
• For PNC PNC, we notice a put option trade that happens to be bearish, expiring in 518 day(s) on January 17, 2025. This event was a transfer of 50 contract(s) at a $125.00 strike. The total cost received by the writing party (or parties) was $89.0K, with a price of $1780.0 per contract. There were 78 open contracts at this strike prior to today, and today 60 contract(s) were bought and sold.
• For AXP AXP, we notice a put option sweep that happens to be bearish, expiring in 518 day(s) on January 17, 2025. This event was a transfer of 12 contract(s) at a $175.00 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 $28.9K, with a price of $2410.0 per contract. There were 367 open contracts at this strike prior to today, and today 17 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 news on unusual options activity.
This article was generated by Benzinga's automated content engine and reviewed by an editor.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Date of Trade | ticker | Put/Call | Strike Price | DTE | Sentiment |
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