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.
What Happened
Nordstrom, Inc. (NYSE:JWN) spiked more than 5 percent Friday on a Reuters report that the Nordstrom family is finalizing a take-private offer. The transaction price is yet unknown.
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The company formed a group to explore the opportunity back in June, prompting a 23-percent stock gain at the time with sympathy moves throughout the industry.
On Friday’s report, J C Penney Company Inc (NYSE:JCP), Macy’s Inc (NYSE:M) and Kohl’s Corporation (NYSE:KSS) popped more than 2.5 percent.
What's Next
Nordstrom’s news is neither unexpected nor unwelcome on the Street. Tigress Financial predicted in November a first-quarter development, and KeyBanc analysts said in September that the stock is a Buy whether or not the transaction goes through. KeyBanc anticipated a $60-per-share takeout price.
At time of publication, Nordstrom shares were trading up 5.2 percent at $52.88.
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Image credit: GoToVan, CC BY 2.0, via Wikimedia Commons
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.