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.
Midway through trading Wednesday, the Dow traded up 0.14 percent to 25,926.45 while the NASDAQ climbed 0.31 percent to 7,509.82. The S&P also rose, gaining 0.15 percent to 2,783.97.
Leading and Lagging Sectors
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On Wednesday, the materials shares climbed 1.4 percent. Meanwhile, top gainers in the sector included Intrepid Potash, Inc. (NYSE:IPI) up 7 percent, and CF Industries Holdings, Inc. (NYSE:CF) up 6 percent.
In trading on Wednesday, real estate shares fell 0.6 percent.
Top Headline
CVS Health Corp (NYSE:CVS) issued weak earnings forecast for FY19. The company reported upbeat earnings for its fourth quarter, while sales missed view.
CVS Health said it earned $2.14 per share in the fourth quarter on revenue of $54.42 billion. However, analysts were expecting earnings of $2.05 per share and revenue of $54.58 billion.
CVS Health expects FY19 adjusted earnings of $6.68 to $6.88 per share, versus analysts’ estimates of $7.41 per share.
Equities Trading UP
ARCA biopharma, Inc. (NASDAQ:ABIO) shares got a boost, shooting up 81 percent to $0.7019 after the company announced an agreement with the FDA for a single Phase 3 clinical trial to support approval for its Cardiovascular drug.
Shares of Kandi Technologies Group, Inc. (NASDAQ:KNDI) shot up 40 percent to $8.33 after the company reported NHTSA approval of 2 electric vehicle models.
LeMaitre Vascular, Inc. (NASDAQ:LMAT) shares were also up, gaining 23 percent to $30.75 after the company posted upbeat Q4 results and issued a strong FY19 outlook.
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Equities Trading DOWN
Ovid Therapeutics Inc. (NASDAQ:OVID) shares dropped 31 percent to $1.78 after reporting pricing of $30 million of securities in concurrent public offerings of common and preferred stock.
Shares of Sienna Biopharmaceuticals, Inc. (NASDAQ:SNNA) were down 22 percent to $2.3199 after the company priced an 8 million share stock offering at $2.50 per share.
Owens & Minor, Inc. (NYSE:OMI) was down, falling around 17 percent to $6.62 after the company reported downbeat Q4 earnings and issued weak 2019 earnings forecast.
Commodities
In commodity news, oil traded up 0.2 percent to $56.20 while gold traded up 0.1 percent to $1,346.10.
Silver traded up 0.4 percent Wednesday to $16.03, while copper rose 0.9 percent to $2.905.
Eurozone
European shares were higher today. The eurozone’s STOXX 600 gained 0.6 percent, the Spanish Ibex Index rose 0.3 percent, while Italy’s FTSE MIB Index climbed 0.2 percent. Meanwhile the German DAX gained 0.7 percent, and the French CAC 40 rose 0.6 percent while U.K. shares rose 0.6 percent.
Economics
The Federal Open Market Committee will issue minutes of its latest meeting at 2:00 p.m. ET.
Data on farm prices for December will be released at 3:00 p.m. ET.
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.