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.
Netflix, Inc. (NASDAQ:NFLX) traded nearly 1.7 percent higher on Thursday after RBC Capital Markets raised its price target to $440. RBC analyst Mark Mahaney reiterated his Outperform rating on Netflix and raised his price target by $80 from $360 to $440. This upgrade comes on the release of a new RBC survey indicating more people are happier using Netflix than before. Furthermore, nearly 70 percent are “very” or “extremely” satisfied with the service.
“We view Netflix as one of the best derivatives off the strong growth in online video viewing and in internet connected devices,” explained Mahaney. However, Morgan Stanley highlighted on the previous day that Apple Inc (NASDAQ:AAPL)’s forthcoming video service could produce sales of as much as $4.4 billion by 2025. As such, Netflix will face new competition from Apple, in addition to its current competitors which include Amazon.com, Inc. (NASDAQ:AMZN).
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Looking at the market cycles for Netflix, the stock has benefited from the rising phase of its current cycle. While there may be a little more upside, it seems probably that the stock is is now stalling in resistance. With the current cycle set to end in December, our target is $300.
Netflix Stock Chart With Weekly Bars
Related Links:
Morgan Stanley Raises Apple's Price Target On Video Optimism
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.