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 happened on this date.
What Happened: On May 17, 1792, the signing of the Buttonwood Agreement laid the groundwork for the New York Stock Exchange.
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Where Was The Market: The Dow and S&P 500 weren’t introduced for another 104 and 131 years, respectively.
What Else Was Going On In The World: The U.S. had recently created the postal service and passed the Presidential Succession Act. Across the Atlantic, the French Revolution raged.
See Also: NYSE Or NASDAQ? Here's Why Stocks Get Listed
Buttonwood Agreement Bears NYSE: Under the shade of a Wall Street buttonwood, 24 stockbrokers and merchants signed an agreement establishing a centralized securities exchange, obviating the roles of auctioneers and setting a commission rate.
Just five securities traded at the time, with the Bank of New York the first to debut.
Nearly 25 years later, the organization became the New York Stock & Exchange Board. After a series of mergers and acquisitions, the exchange is now operated by Intercontinental Exchange (NYSE:ICE).
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.