Today, March 16, 2022, on the NYSE, there was unusual or noteworthy options trading activity at Coupang, Inc. (CPNG), which opened at $16.00.
Above are Coupang’s notable options from the Unusual Whales options order flow.
A tip from the flow: Transactions accompanied by a briefcase emoji can be perceived as bought or sold to open. This determination is made if the trade size was greater than the chain’s open interest. Only transactions that can be positively identified as being bought or sold to open will be marked as such (with the briefcase).
Shown above is the historical volume of the aforementioned channel, in red, and open interest, in blue, as bar charts behind the required supply and demand, in a light blue and darker shade, respectively. .
Open interest on this channel today was 259 contracts and volume so far has been 8,017; therefore, these contracts can be perceived as having been opened.
To view more information on CPNG’s daily feed breakdown, click here to visit unusualwhales.com.
On the NYSE, there was unusual or noteworthy options trading activity at Citigroup Inc. (C), which opened today at $56.01.
Above are Citigroup’s notable options from the Unusual Whale Feed Alerts page.
A tip from the flow: When viewing alerts on the unusual whale feed alerts page, you can click “Link to feed” to view channel activity in the global options command feed, as shown here:
Above are the most important orders that were received in this flow alert.
- Interestingly, there were still 5,000 contracts traded on the $70 strike put options dated March 18, 2022, again above the ask at $15.04 with a bid spread -seller from $14.40 to $14.55.
- Since the open interest of these two chains was higher than their required volumes, it cannot be known whether these were bought or sold to open or close; however, intuition may lead us to assume that these contracts have been rolled over from date to date, or that they are part of a schedule.
To view more information on C Stream Breakdown, click here to visit unusualwhales.com.
Finally, in the NasdaqGM, there was unusual or noteworthy options trading activity at Turtle Beach Corporation (HEAR), which opened today at $18.00.
- There were 1,500 contracts traded as floor trades on the $21 strike call option dated April 14, 2022 bought to open at the ask of $1.20 with a bid-ask spread of 0, $90 to $1.20.
- Overall volume on this channel was around 1.5K, this order, and open interest was 38, so we can intuit that these contracts were bought or sold to open, not to close.
- Additionally, these orders come after Reuters reported that Donerail is dropping plans to buy Turtle Beach, instead seeking to oust the board.
Above are Turtle Beach’s notable options from the stream of unusual whales.
Interestingly, these orders were marked as “floor”. Floor traders work on the floor of an exchange. When a floor trader executes a transaction, exclusively for his own account, this must be indicated on a stock exchange by the “floor” tag.
Click here to learn more about trader performance. Here is an exerpt :
“More interestingly, we found that floor traders do not bet on crazy far OTM calls. Instead, most weekly calls bought are around 10% ITM, with around a 40% chance of making a profit. And when it comes to OTM calls, nearly half of those trades end up making gains and about a third of them can reach 50% and more.
The chart above depicts Turtle Beach historical price in cyan, call volume in green, bet volume in red, and open interest in blue.
As of this writing, Turtle Beach has had 1,946 calls exchanged, compared to 18,492 exchanged on March 1, 2022, just before Donerail’s letter.
To view more information on HEAR’s stream breakdown, click here to visit unusualwhales.com.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.