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 Tuesday, the Dow traded up 0.10% to 28,094.13 while the NASDAQ rose 0.09% to 8,639.86. The S&P also rose, gaining 0.08% to 3,136.05.
Leading and Lagging Sectors
Real estate shares climbed 0.7% on Tuesday. Meanwhile, top gainers in the sector included Safehold Inc. (NYSE:SAFE), up 7%, and CBL & Associates Properties, Inc (NYSE:CBL), up 5%.
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In trading on Friday, financial shares fell 0.2%.
Top Headline
Best Buy Co Inc (NYSE:BBY) reported upbeat earnings for its third quarter and raised its guidance.
Best Buy reported third-quarter earnings of $1.13 per share on Tuesday, which beat the analyst consensus estimate of $1.03. The company reported quarterly sales of $9.764 billion, which beat the analyst consensus estimate of $9.7 billion.
Best Buy raised fiscal year 2020 EPS from $5.60-$5.75 to $5.81-$5.91 versus the $5.74 estimate and narrowed sales guidance from $43.1-$43.6 billion to $43.2-$43.6 billion versus the $43.38 billion estimate.
Equities Trading UP
ChemoCentryx, Inc. (NASDAQ:CCXI) shares shot up 310% to $33.05 after the company announced the pivotal phase-III ADVOCATE trial of avacopan for the treatment of patients with ANCA-associated vasculitis met both primary endpoints.
Shares of Neoleukin Therapeutics, Inc. (NASDAQ:NLTX) got a boost, shooting up 18% to $5.00.
Nutanix, Inc. (NASDAQ:NTNX) shares were also up, gaining 18% to $34.00 after the company reported better-than-expected Q1 EPS and sales results.
Equities Trading DOWN
Movado Group, Inc. (NYSE:MOV) shares tumbled 22% to $19.64 after the company reported worse-than-expected Q3 EPS and sales results. The company also cut its FY20 sales guidance below the analyst estimates.
Shares of Titan Machinery Inc. (NASDAQ:TITN) were down 18% to $14.84 after the company reported downbeat Q3 results and narrowed FY20 EPS guidance.
Airgain, Inc. (NASDAQ:AIRG) was down, falling 16% to $8.34 after the company reported that CFO Anil Doradla is leaving the company.
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Commodities
In commodity news, oil traded down 1.2% to $57.90, while gold traded down 0.1% to $1,463.00.
Silver traded down 0.4% Friday to $16.99, while copper rose 0.7% to $2.6425.
Euro zone
European shares were mostly higher today. The eurozone’s STOXX 600 rose 0.44%, the Spanish Ibex Index rose 0.44%, while Italy’s FTSE MIB Index slipped 0.09%. Meanwhile, the German DAX rose 0.20%, and the French CAC 40 rose 0.20% while UK shares rose 1.22%.
Economics
The US goods trade deficit shrank to $66.5 billion in October, versus $70.5 billion in the prior month, the advance estimate showed.
Wholesale inventories increased 0.2% in October, following a revised 0.7% decline in September.
The S&P CoreLogic Case-Shiller home price index increased 2.1% year-over-year in September, versus a 2.0% rise in the prior month.
The FHFA house price index increased 0.6% in September, compared to a 0.2% rise in the prior month.
U.S. new home sales report declined 0.7% to an annual rate of 733,000 in October 2019, versus a revised 4.5% rise in September.
The Conference Board consumer confidence index fell to 125.5 for November, versus prior reading of 126.1.
The Richmond Fed manufacturing index dropped to a reading of (1) in November, versus prior reading of 8.
Federal Reserve Member of the Board of Governors Lael Brainard is set to speak in New York at 1:00 p.m. ET.
The Treasury is set to auction 5-year notes 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.