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.
The following stocks and technicals were mentioned on Wednesday's edition of PreMarket Prep, a daily trading ideas show hosted by former floor trader Joel Elconin and prop trader Dennis Dick.
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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- Apple Inc (NASDAQ:AAPL) - hit $156.85 as a pre-market low. Also has a four-day low of $156.41. $157 could be a big level; it's midway between the all-time high and low of the move.
- United Rentals, Inc (NYSE:URI) - moved higher on volume up to $156, which could make it harder to go up. It also has pre-market support at $147.
- American Express Company (NYSE:AXP) - has to hold $90 as key support.
- eBay Inc (NASDAQ:EBAY) - hit a pre-market low of $34.97, which coincides with the Aug. 30 low at $35.10.
- Verizon Communications Inc. (NYSE:VZ) - has a high of move at $50.31. That's resistance with the Sept. 26 high of $50.08.
- Winnebego Industries, Inc. (NYSE:WGO) - hit an after-hours high of $46.65. The all-time high is $46.85, but the stock has been leaking.
- Adobe Systems Incorporated (NASDAQ:ADBE) - hit an after-hours high of $167.4 and has pre-market support at $163.
- Netflix, Inc (NASDAQ:NFLX) - hit an after-hours low $192.09 and an Oct. 6 low of $192.05. There's air under that until $184.49.
- Alcoa Corp (NYSE:AA) - hit an after-hours low of $46.25. The Oct. 11 low was $46.21, and there's resistance at a double close at$47.75 and $47.77.