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.
On CNBC's "Options Action," Dan Nathan spoke about unusually high options activity in Snap Inc (NYSE:SNAP). He said the call options volume was five times the average daily volume and 3 times that of puts.
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.
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See Also: Analyst Optimism Pushes Snap Shares Higher
When the stock was trading around $11, Nathan noticed a purchase of 6,500 contracts of the October 11 calls for $1.85. The trade breaks even at $12.85 on October expiration or 13.92 percent higher from the closing price on Thursday.