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.
General Electric Company (NYSE:GE) on Thursday announced two new business developments: the creation of a new Industrial Internet of Things (IIoT) software business and an agreement to sell a majority stake in its ServiceMax business.
What Happened
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GE's new IIoT business will be wholly-owned by GE and independently run with the objective of bringing together all of GE Digital's IIoT solutions, including the Predix platform, Asset Performance Management, Historian, Automation (HMI/SCADA), Manufacturing Execution Systems, Operations Performance Management and the GE Power Digital and Grid Software Solutions businesses.
The business will start with $1.2 billion in annual software revenue and an existing global industrial customer base.
Separately, the company agreed to sell a majority stake in ServiceMax, a provider of cloud-based software productivity tools for field service technicians to the private equity firm Silver Lake. As part of the agreement, GE will hold on to a 10-percent stake in ServiceMax and the two entities entered into a reseller agreement to continue serving joint customers, including GE's industrial business units.
Why It's Important
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GE Chairman and CEO Larry Culp, Jr. said in the press release the strategic moves is part of a strategy to better focus on core verticals, deliver greater value to customers and create new value for investors.
GE investors are reacted positively to the announcements. Coupled with a big upgrade from JPMorgan, investors spear to be incrementally more optimistic on GE's outlook today.
At time of publication, GE shares were trading up 11.6 percent to $7.49 in Thursday's pre-market session.
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Photo credit: Empoor, 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.