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.
Toward the end of trading Wednesday, the Dow traded down 0.1 percent to 26565.75 while the NASDAQ climbed 0.15 percent to 8107.29. The S&P also fell, dropping 0.18 percent to 2940.45.
Leading and Lagging Sectors
ENTER TO WIN $500 IN STOCK OR CRYPTO
Enter your email and you'll also get Benzinga's ultimate morning update AND a free $30 gift card and more!
Wednesday afternoon, the information technology shares rose 0.6 percent. Meanwhile, top gainers in the sector included Nanometrics Incorporated (NASDAQ:NANO) up 24 percent, and Rogers Corporation (NYSE:ROG) up 16 percent.
In trading on Wednesday, energy shares fell 1.2 percent.
Top Headline
Apple Inc. (NASDAQ:AAPL) reported better-than-expected earnings for its second quarter.
Earnings came in at $2.46 per share, beating estimates by 10 cents. Sales came in at $58 billion, beating estimates by $560 million.
The company issued strong third-quarter sales guidance of $52.5 billion-$54.5 billion; Estimates called for $51.9 billion.
Equities Trading UP
Enphase Energy, Inc. (NASDAQ:ENPH) shares got a boost, shooting up 29 percent to $12.99 after the company reported better-than-expected Q1 EPS and sales results.
Shares of ARCA biopharma, Inc. (NASDAQ:ABIO) shot up 117 percent to $11.20 after data from the company's GENETIC-AF Phase 2B trial was published in the Journal of American College of Cardiology.
Nu Skin Enterprises, Inc. (NYSE:NUS) shares were also up, gaining 26 percent to $64.28 after the company reported better-than-expected Q1 EPS and sales results and issued FY19 guidance above the consensus estimates.
Equities Trading DOWN
Want Private Access to Benzinga Analyst?
Check out the latest strategies our team of experts are using every week so that you can always adapt to the market like the pros!—Get FULL Access to This Week's Webinar Here.
Pulse Biosciences, Inc.. (NASDAQ:PLSE) shares dropped 26 percent to $11.79 after reporting wider-than-expected Q1 loss.
Shares of CM Seven Star Acquisition Corporation (NASDAQ:CMSS) were down 42 percent to $2.90 after the company reported the consummation of business combination with Renren Inc.'s Kaixin Auto Group.
Frontier Communications Corporation (NASDAQ:FTR) was down, falling around 26 percent to $2.10 after the company reported worse-than-expected Q1 EPS results.
Commodities
In commodity news, oil traded down 0.6 percent to $63.52 while gold traded down 0.8 percent to $1,275.70.
Silver traded down 2.3 percent Wednesday to $14.635, while copper fell 3.4 percent to $2.8055.
Eurozone
Majority of the European markets are closed for a public holiday.
Economics
Private-sector employers added 275,000 jobs in April, ADP reported Wednesday. However, economists were expecting a gain of 181,000 jobs.
The manufacturing PMI for April is schedule for release at 9:45 a.m. ET.
The ISM manufacturing composite index fell to 52.8 for April, versus a reading of 55.3 in March. However, economists projected a reading of 54.7.
U.S. construction spending fell 0.9 percent for March, versus economists’ expectations for a 0.4 percent drop.
U.S. crude supplies climbed 9.9 million barrels for the week ended April 26, the Energy Information Administration reported. However, analysts expected a gain of 1.4 million barrels. Gasoline inventories rose 900,000 barrels, while distillate stockpiles declined 1.3 million barrels last week.
In a move that was widely expected, the Federal Reserve opted not to raise interest rates on Wednesday. The decision comes just six weeks after the Fed said another interest rate hake in 2019 is unlikely.
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.