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.
Following the market opening Friday, the Dow traded up 0.51% to 27226.21 while the NASDAQ rose 0.12% to 8,205.78. The S&P also rose, gaining 0.11% to 3,003.19.
Leading and Lagging Sectors
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Industrial shares rose 1% on Friday. Meanwhile, top gainers in the sector included Milacron Holdings Corp. (NYSE:MCRN), up 25%, and XPO Logistics, Inc. (NYSE:XPO), up 6%.
In trading on Friday, health care shares fell 1%.
Top Headline
Infosys Limited (NYSE:INFY) reported upbeat June-quarter profit and raised revenue forecast for the fiscal year.
Infosys posted a profit of 38.02 billion rupees ($554.00 million), compared to 36.12 billion rupees in the year-ago period. Revenue from operations increased around 14%. Analysts were expecting a profit of 37.05 billion rupees.
Infosys raised its full-year sales growth guidance from 7.5%-9.5% to 8.5%-10%.
Equities Trading UP
Tower International, Inc. (NYSE:TOWR) shares shot up 69% to $30.81 after the company announced it will be acquired by Autokiniton Global for $31 per share in cash.
Shares of SG Blocks, Inc. (NASDAQ:SGBX) got a boost, shooting up 119% to $1.4001 after the company executed an agreement to own a 50% membership interest in CPF GP, which is expected to own a 302-unit multifamily project in Sullivan County, NY.
Milacron Holdings Corp. (NYSE:MCRN) shares were also up, gaining 25% to $16.89 after the company agreed to be acquired by Hillenbrand Inc. (NYSE:HI) in a cash and stock transaction valued at $2 billion including net debt of $686 million as of March 31.
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Equities Trading DOWN
U.S. Xpress Enterprises, Inc. (NYSE:USX) shares tumbled 19% to $3.95 after the company lowered its financial outlook for the second quarter 2019 as well as the full year.
Shares of Revolution Lighting Technologies, Inc. (NASDAQ:RVLT) were down 26% to $0.43 on no company-specific news, potentially after traders took profits following a 200% stock price rise yesterday. The company was recently granted an extension to remain listed on Nasdaq.
Illumina, Inc. (NASDAQ:ILMN) was down, falling 16% to $306.92 after the company reported preliminary Q2 sales below analyst estimates.
Commodities
In commodity news, oil traded up 0.1% to $60.26, while gold traded up 0.1% to $1,407.50.
Silver traded down 0.4% Friday to $15.085, while copper fell 0.4% to $2.676.
Euro zone
European shares were higher today. The eurozone’s STOXX 600 rose 0.14%, the Spanish Ibex Index rose 0.17%, while Italy’s FTSE MIB Index gained 0.26%. Meanwhile, the German DAX dropped 0.01%, and the French CAC 40 rose 0.38% while UK shares rose 0.09%.
Economics
The Producer Price Index rose 0.1% for June, versus economists’ expectations for a 0.1% increase.
The Baker Hughes North American rig count report for the latest week will be released at 1:00 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.