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.
Shares of Micron Technology, Inc. (NASDAQ:MU) were trading lower by 3 percent early Wednesday morning in reaction to the company's new share offering in which it will sell around $1 billion in stock. Following the announcement, Stifel's Kevin Cassidy maintains a Buy rating on Micron's stock with an unchanged $64 price target, as the share offering aligns with the company's objectives.
Micron will use $476 million of the proceeds to redeem a $438 million of its 7.5 percent secured notes that are due in 2023, along with accrued and unpaid interest, Cassidy commented in a research report. The rest of the cash will redeem other debt securities and for general corporate purposes.
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As a whole, Micron's new stock offering will accelerate the company's outlook of being net cash positive at the end of fiscal 2018. In addition, the stock offering will also save around 5 cents per share in converts over its prior debt plan.
"While many investors may be suspect on the timing of this offering (considering the low P/E and near +5 year high share price), we see management as being prudent in reducing convertible debt and building on-shore cash," the analyst concluded.
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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.