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.
S&P 500 futures broke out of a narrow three-day consolidation range with a bang yesterday, notching yet another round of fresh all-time highs as Wall Street closes the last full trading week of 2019 with Quadruple Witching Friday. The /ES showed eight green candles in a row on an hourly chart yesterday, as the day’s only major dip was met with an aggressive bid up.
The weekly chart shows a breakout above a Rising Wedge pattern stemming from peaks in April and July, whereas the RSI is making new highs with price and continued its rise with a bullish move into the overbought area. WTI Crude Oil futures also look to be gathering momentum, edging above the stubborn $60 resistance level.
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An RSI making new highs coupled with a rising ADX suggests trend strength brewing, but it will be important to watch if the contract can break the 63.38 high from the September drone attacks in Saudi Arabia.
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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.