27% profits every 20 days?
This is what Nic Chahine averages with his options 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.
Midway through trading Friday, the Dow traded up 0.05 percent to 26,001.17 while the NASDAQ gained 0.31 percent to 8,113.50. The S&P also rose, gaining 0.09 percent to 2,903.68.
Leading and Lagging Sectors
On Friday, the consumer discretionary shares rose 0.48 percent. Meanwhile, top gainers in the sector included American Outdoor Brands Corporation (NASDAQ:AOBC) up 35 percent, and Lululemon Athletica Inc. (NASDAQ:LULU) up 15 percent.
In trading on Friday, energy shares fell 0.52 percent.
Top Headline
Big Lots, Inc. (NYSE:BIG) reported downbeat earnings for its second quarter and issued weak forecast for FY18.
Big Lots posted quarterly earnings of $0.59 per share on revenue of $1.222 billion. However, analysts were expecting earnings of $0.67 per share on revenue of $1.23 billion. Big Lots expects FY18 adjusted earnings of $4.40 to $4.55 per share, versus analysts’ estimates of $4.57 per share.
Equities Trading UP
American Outdoor Brands Corporation (NASDAQ:AOBC) shares shot up 35 percent to $13.22 after reporting a first-quarter earnings beat. The company issued strong second-quarter and FY19 earnings guidance.
Shares of Pro-Dex, Inc. (NASDAQ:PDEX) got a boost, shooting up 22 percent to $8.70 after reporting upbeat Q4 results.
Lululemon Athletica Inc. (NASDAQ:LULU) shares were also up, gaining 15 percent to $157.10 after the company reported better-than-expected earnings for its second quarter. The company issued strong third-quarter guidance.
Equities Trading DOWN
Zuora, Inc. (NASDAQ:ZUO) shares dropped 16 percent to $28.6931. Zuora reported better-than-expected earnings for its second quarter, but issued weak guidance for its third quarter.
Shares of MagneGas Corporation (NASDAQ:MNGA) were down 10 percent to $0.2051 after the company reported July sales of $900,000 compared with $230,000 in July of 2017.
Big Lots, Inc. (NYSE:BIG) was down, falling around 9 percent to $43.51 after the company reported downbeat earnings for its second quarter and issued weak forecast for FY18.
Commodities
In commodity news, oil traded down 0.11 percent to $70.17 while gold traded up 0.44 percent to $1,210.30.
Silver traded up 0.32 percent Friday to $14.64, while copper fell 0.79 to $2.696.
Eurozone
European shares were lower today. The eurozone’s STOXX 600 fell 0.61 percent, the Spanish Ibex Index fell 0.53 percent, while Italy’s FTSE MIB Index dropped 0.70 percent. Meanwhile the German DAX declined 0.83 percent, and the French CAC 40 slipped 1.05 percent while U.K. shares fell 0.83 percent.
Economics
The Chicago PMI declined to 63.60 for August, versus prior reading of 65.50. However, economists were expecting a reading of 63.00.
The final reading of University of Michigan's consumer sentiment index rose to 96.2 for August, versus preliminary reading of 95.3.
The Baker Hughes North American rig count report for the latest week is schedule for release at 1:00 p.m. ET.
27% profits every 20 days?
This is what Nic Chahine averages with his options 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.
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