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.
Drug distributors were in freefall Friday when CBS Corporation (NYSE:CBS) teased an expository “60 Minutes” episode linking these distributors to failures in the opioid crackdown.
The Oct. 15 segment will highlight a joint investigation with The Washington Post revealing hindrances to the Drug Enforcement Agency’s efforts to curb the opioid epidemic.
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In the special, former DEA Deputy Assistant Administrator Joe Rannazzisi goes after distributors for fueling the issue by overlooking a diversion of products to the illicit drug scene.
He specifically accuses McKesson Corporation (NYSE:MCK), Cardinal Health Inc (NYSE:CAH) and AmerisourceBergen Corp. (NYSE:ABC), which he said control 85 to 90 percent of drugs “ending up downstream,” of capitalizing on the rampant addiction.
The preview, alone, prompted a plunge in the pharmaceutical stocks and seemed to have dragged the following opioid-based treatment developers in sympathy:
- Insys Therapeutics Inc (NASDAQ:INSY), down 2.3 percent;
- Cara Therapeutics Inc (NASDAQ:CARA), down 3 percent;
- Collegium Pharmaceutical Inc (NASDAQ:COLL), down 3 percent; and
- Teva Pharmaceutical Industries Ltd (ADR) (NYSE:TEVA), down 2 percent.
Sunday’s complete report may inspire additional sell-offs Monday.
At time of publication, McKesson was down 2.3 percent, Cardinal Health 2.4 percent and AmerisourceBergen 2.7 percent.
Related Links:
Every Generation Has Its Drug: How People Are Dealing With Opioids, The New (Old) Thing
No Pain, No Gain: How The American Military Wants Big Pharma To Cure The Opioid Crisis
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.