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.
Following the market opening Friday, the Dow traded down 0.08 percent to 23,382.63 while the NASDAQ climbed 1.37 percent to 6,646.81. The S&P also rose, gaining 0.38 percent to 2,570.22.
Leading and Lagging Sectors
Friday morning, the technology shares climbed by 2.7 percent. Meanwhile, top gainers in the sector included Amazon.com, Inc. (NASDAQ:AMZN), up 10 percent, and VASCO Data Security International, Inc. (NASDAQ:VDSI), up 10 percent.
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In trading on Friday, cyclical consumer goods & services shares fell 0.90 percent. Meanwhile, top losers in the sector included Town Sports International Holdings, Inc. (NASDAQ:CLUB), down 25 percent, and J C Penney Company Inc (NYSE:JCP) down 20 percent.
Top Headline
Amazon.com, Inc. (NASDAQ:AMZN) reported stronger-than-expected results for its third quarter on Thursday.
Amazon’s turned in earnings of 52 cents per share, the same EPS as last year's third quarter. Sales came in at $43.7 billion. However, analysts expected earnings of $0.03 per share on revenue of $42.14 billion.
Equities Trading UP
Shineco Inc (NASDAQ:TYHT) shares shot up 30 percent to $3.62 after the company reported a deal to market authorized products of Daiso to distribute on JD.com.
Shares of First Solar, Inc. (NASDAQ:FSLR) got a boost, shooting up 19 percent to $57.01 after a big earnings beat in the third quarter. The company also raised FY 2017 guidance. Needham upgraded First Solar from Hold to Buy.
Planet Payment Inc (NASDAQ:PLPM) shares were also up, gaining 17 percent to $4.46 after Fintrax announced plans to purchase Planet Payment for $4.50 per share in cash.
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Equities Trading DOWN
PhaseRx Inc (NASDAQ:PZRX) shares dropped 34 percent to $0.636 as the company disclosed that it has received delisting notice from the NASDAQ.
Shares of Electronics For Imaging, Inc. (NASDAQ:EFII) were down 30 percent to $29.33 after the company reported downbeat Q3 results. William Blair downgraded Electronics for Imaging from Outperform to Market Perform.
J C Penney Company Inc (NYSE:JCP) was down, falling around 20 percent to $2.92 after the company issued a weak earnings forecast for the third quarter and full year.
Commodities
In commodity news, oil traded down 0.36 percent to $52.45 while gold traded down 0.17 percent to $1,267.50.
Silver traded down 0.90 percent Friday to $16.66, while copper fell 2.60 percent to $3.095.
Eurozone
European shares were mostly higher today. The eurozone’s STOXX 600 gained 0.37 percent, the Spanish Ibex Index fell 1.43 percent, while Italy’s FTSE MIB Index slipped 0.44 percent. Meanwhile the German DAX climbed 0.71 percent, and the French CAC 40 surged 0.76 percent while U.K. shares rose 0.12 percent.
Economics
The U.S economy expanded at an annual rate of 3 percent in the third quarter, beating economists’ expectations for a 2.5 percent growth.
The University of Michigan's consumer sentiment index slipped to 100.70 for October, versus prior reading of 101.10. Economists were projecting a reading of 100.90.
The Baker Hughes North American rig count report for the latest week is schedule for release at 1:00 p.m. ET.
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.