27% profit every 20 days?
This is what Nic Chahine averages with his option 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.
General Electric Company (NYSE:GE) shares are trading higher by 60 cents (2.5 percent) at $25.15 in Friday's session. There is no specific news out on the stock to account for the best gain in months, and it's most likely technically driven.
27% profit every 20 days?
This is what Nic Chahine averages with his option 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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Over the last nine sessions, GE has traded in a narrow range from $24.15 to $24.74. The lower-end of the range marks the lowest level for the stock since September 2015, when it bottomed at $23.68.
After a slightly higher open, GE retreated but found support just under Thursday's close ($24.55) at $24.49 and began to move higher. Once it passed the upper-end of the rally the pace of the rally accelerated. So far, it reached $25.24 but has backed off that level. That high coincides with its August 16 high ($25.25).