May 27, 2011 1:32 PM | 1 min read
20-Year Pro Trader Reveals His "MoneyLine"
Ditch your indicators and use the "MoneyLine". A simple line tells you when to buy and sell without the guesswork. It’s a line on a chart that’s helped Nic Chahine win 83% of his options buys. Here's how he does it.
Shares of Elan Corporation (NYSE: ELN) are higher on the session by 3.72%, currently trading at $9.48. The stock has been moving largely higher over the past six months and is currently trading above the 50-day and 200-day moving averages.Options traders are buying calls on the name today. A short while ago the July 2011 $10.00 call was purchased 4,500 times, on the offer, on open interest of 3,140 contracts. Overall call volume is now running at 4.68x the daily average with 68% of all calls traded being purchases on the offer. Elan Corporation, plc is a neuroscience-based biotechnology company. Elan is focused on discovering and developing advanced therapies in neurodegenerative and autoimmune diseases, and in realizing the potential of its scientific discoveries and drug delivery technologies.
20-Year Pro Trader Reveals His "MoneyLine"
Ditch your indicators and use the "MoneyLine". A simple line tells you when to buy and sell without the guesswork. It’s a line on a chart that’s helped Nic Chahine win 83% of his options buys. Here's how he does it.
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