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.
Cleveland-Cliffs Inc. (NYSE:CLF) said Tuesday it will acquire all of the issued and outstanding shares of AK Steel Holding Corporation (NYSE:AKS) common stock valued at $1.1 billion.
Under the terms of the merger agreement, AK Steel shareholders will receive 0.40 shares of Cliffs common stock for each outstanding share of AK Steel common stock they own.
Cliffs shareholders will own approximately 68% and AK Steel shareholders will own approximately 32% of the combined company, respectively, on a fully diluted basis.
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The transaction will combine Cliffs, North America’s largest producer of iron ore pellets, with AK Steel, the producer of flat-rolled carbon, stainless and electrical steel products, to create a vertically integrated producer of value-added iron ore and steel products.
Lourenco Goncalves, chairman of the board, president and CEO of Cliffs, will lead the organization.
Cleveland-Cliffs shares were trading down 15% at $7.12 at time of publication, while AK Steel's stock traded up 2.2% at $2.95 per share.
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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