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.
Fintech giant Square Inc (NASDAQ:SQ) will acquire the brokerage API company Third Party Trade, a source familiar with the matter told Benzinga.
Founded in 2015, Third Party Trade offers APIs to power the core functionalities of a brokerage. In short, this means firms looking to offer trading to their customers can focus on building the front-end experience customers interact with, and a sales and marketing engine, without having to do the heavy lifting of building back-end brokerage functionality.
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Why It's Important
Companies like Third Party have proven to be a backbone to fueling the uptick of commission-free and low-commission brokerages.
In a 2015 interview, Third Party CEO Michael Giles said the company raised a small amount of capital, but has primarily funded its growth with revenue. Giles was a speaker at the 2018 Benzinga Global Fintech Awards.
Square and Giles did not respond to emailed requests for comment from Benzinga.
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What's Next
The deal suggests Square may enter the brokerage or wealth management spaces. The services Square currently offers include payroll, business debit cards, lending and point-of-sale.
In August, Square announced the sale of its food ordering platform to DoorDash for $400 million.
Square shares closed Monday's session down at $61.47. The stock traded down by 1.58% at $60.50 in Tuesday's pre-market session.
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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.