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.
Each day, Benzinga takes a look back at a notable market-related moment that occurred on this date.
What Happened?
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On this day 20 years ago, Priceline.com hit its Dot Com market peak, gaining more than 914 percent in a single month.
Where The Market Was
The Dow finished the day at 10,789.04. The S&P 500 traded at 1,335.18. Today, the Dow is trading at 26,554 and the S&P 500 is trading at 2,943.
What Else Was Going On In The World?
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In 1999, Hurricane Floyd slammed the U.S. East Coast, killing more than 50 people. U.S. President Bill Clinton was acquitted of perjury and obstruction of justice charges, ending his impeachment trial. A gallon of gasoline cost $1.22.
Dot Com Bubble Personified
Priceline went public at a price of $16 per share on March 30, 1999. Just one month later, the stock closed at $162.37, an unbelievable 914 percent one-month gain.
Unfortunately, like so many other Dot Com darlings, Priceline’s meteoric rise was short-lived. The stock tanked during the bursting of the bubble, and it ultimately lost 99 percent of its peak market cap of $23 billion by the end of 2000, bottoming at $6.37 per share. Priceline turned its first profit in 2001 and went on to become the world’s largest online hotel reservation service in 2010.
After a 2017 name change to Booking Holdings Inc (NASDAQ:BKNG), the stock now trades at $1,876 per share and has a market cap of $82 billion.
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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.