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.
Here’s the list of options activity happening in today’s session:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| NYCB | PUT | SWEEP | BULLISH | 02/09/24 | $4.00 | $39.5K | 12.2K | 10.1K |
| RILY | PUT | SWEEP | BEARISH | 02/16/24 | $20.00 | $90.5K | 28.6K | 2.6K |
| WAL | PUT | SWEEP | BULLISH | 03/15/24 | $45.00 | $33.1K | 591 | 611 |
| WU | CALL | SWEEP | BULLISH | 01/17/25 | $12.00 | $25.0K | 3.0K | 606 |
| CMA | PUT | SWEEP | BEARISH | 05/17/24 | $42.50 | $92.5K | 18 | 500 |
| KEY | CALL | TRADE | BULLISH | 01/16/26 | $8.00 | $48.3K | 1.3K | 500 |
| C | CALL | SWEEP | BULLISH | 01/16/26 | $80.00 | $36.6K | 114 | 253 |
| COIN | CALL | SWEEP | BULLISH | 06/21/24 | $160.00 | $105.4K | 2.0K | 138 |
| AFRM | CALL | TRADE | NEUTRAL | 02/09/24 | $36.50 | $97.2K | 52 | 120 |
| BLK | CALL | SWEEP | BEARISH | 02/09/24 | $792.50 | $28.9K | 57 | 107 |
Insightful Observations
These insightful observations are gleaned from the accompanying table.
• Concerning NYCB, we notice a put option sweep with a bullish sentiment expiring on February 9, 2024. A total of 790 contracts were traded at a strike price of $4.00, generating revenue of $39.5K. The number of open contracts at this strike prior to today was 12229, with 10182 contracts bought and sold today.
• For RILY, there was a put option sweep with a bearish sentiment expiring on February 16, 2024. A total of 283 contracts were traded at a strike price of $20.00, generating revenue of $90.5K. The number of open contracts at this strike prior to today was 28632, with 2634 contracts bought and sold today.
• Concerning WAL, we observe a put option sweep with a bullish sentiment expiring on March 15, 2024. A total of 347 contracts were traded at a strike price of $45.00, generating revenue of $33.1K. The number of open contracts at this strike prior to today was 591, with 611 contracts bought and sold today.
• Concerning WU, we observe a call option sweep with a bullish sentiment expiring on January 17, 2025. A total of 250 contracts were traded at a strike price of $12.00, generating revenue of $25.0K. The number of open contracts at this strike prior to today was 3026, with 606 contracts bought and sold today.
• For CMA, there was a put option sweep with a bearish sentiment expiring on May 17, 2024. A total of 500 contracts were traded at a strike price of $42.50, generating revenue of $92.5K. The number of open contracts at this strike prior to today was 18, with 500 contracts bought and sold today.
• For KEY, there was a call option trade with a bullish sentiment expiring on January 16, 2026. A total of 60 contracts were traded at a strike price of $8.00, generating revenue of $48.3K. The number of open contracts at this strike prior to today was 1304, with 500 contracts bought and sold today.
• For C, a call option sweep with a bullish sentiment expiring on January 16, 2026. A total of 114 contracts were traded at a strike price of $80.00, generating revenue of $36.6K. The number of open contracts at this strike prior to today was 114, with 253 contracts bought and sold today.
Unusual Options Activity: A Deep Dive into Market Insight
Market Insights Uncovered
One of the most enthralling aspects of the stock market is the complex web of transactions that occur beneath the surface. From the tempestuous ebbs and flows of Wall Street, a striking pattern emerges: unusual options activity. For investors, such extraordinary movement can be akin to witnessing a cosmic event in the nighttime sky, generating awe and contemplation. Much like reading tea leaves, these trades offer a tantalizing glimpse into the collective consciousness of market participants.
The Call of the Bulls
Nestled within the labyrinth of financial markets, a call option sweep occurred today: a bullish anomaly that sent ripples through the trading ether. With an expiration date set for January 16, 2026, a momentous 214 contracts changed hands at an $80.00 strike. This symbolic call, akin to the sound of a distant bugle, was fragmented into 15 distinct trades before it found its voice. The price commanded was a resounding $172.0 per contract, yielding a total sum of $36.6K for the writing party. Prior to today, a modest 114 open contracts graced the same strike, but by day’s end, a total of 253 contracts had journeyed into the hands of new owners and resolute sellers.
COIN and the Golden Call
Under the symbol COIN, another call option sweep, exuding a bullish spirit, captivated attention with its 99 contracts at a $160.00 strike, expiring on June 21, 2024. This crafty call, intricately split into 13 trades, carried a princely price of $1065.0 per contract, amassing a splendid sum of $105.4K for its architects. Witnessing the exchange of 2061 open contracts before today and an exchange of 138 more contracts throughout the day, the symphony of trading activity unfolded like a vibrant tapestry of commerce.
An AFRM Speculation
Meanwhile, the company AFRM hosted an option trade with a neutral sentiment that seemed to teeter on the precipice of uncertainty. This particular option was destined to expire in a mere 2 days, on February 9, 2024. With 120 fateful contracts at a $36.50 strike, the weighty price of $810.0 per contract conjured forth a bounty of $97.2K for the writers. The flurry of activity saw 52 existing contracts overshadowed by the 120 new arrivals.
A Bear Roars for BLK
Lastly, under the cloak of bearish sentiment, BLK was the stage for another captivating call option sweep. With a February 9, 2024, expiration date looming like a specter, a total of 50 contracts, shattered into 5 distinct realms, exchanged hands at a $792.50 strike. The reward for enduring this financial tempest was $28.9K, with each contract fetching $575.0. The original 57 open contracts were outnumbered by the 107 new contracts that flooded the strike.
An Introduction to Options Terminology
To wade into these deep waters and discover the world of options is to grapple with a lexicon of financial folklore. The call of contracts, the summons of expiration dates, the intangible essence of premium; truly these options are more than just numbers on a screen, they are the very fabric of market psychology.
For investors eager to plumb the depths of these curious financial waters, a comprehensive guide exists to serve as a beacon in the murk, offering a flashlight to illuminate the mysterious caverns of unusual options activity.
Parting Thoughts
Much like interpreting the flight of birds or the casting of runes, untangling the web of unusual options activity demands a seasoned eye. From the shimmering optimism of bullish sweeps to the shadowy visage of bearish undertakings, these peculiar transactions serve as whispered secrets, hinting at the ebbs and flows of equity sentiment. The interplay of human emotion, market dynamics, and obscure financial contracts forms a tapestry that defies the constraints of mere speculation, offering a window into the complex narratives that define our financial markets.
This scrutiny of unusual options activity provides a beacon, a vivid star in the inky firmament of market analysis, beckoning to investors and speculators alike with its siren song of potential. As the chapter of today’s trading draws to a close, the ripple effect of these remarkable transactions reverberates through the annals of market history, serving as a testament to the enduring enigma that is the stock market.