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.
Taiwan-based memory chip maker Macronix International Co., Ltd. is bullish on the memory chip market in 2020, according to Nikkei Asian Review.
What Happened
ENTER TO WIN $500 IN STOCK OR CRYPTO
Enter your email and you'll also get Benzinga's ultimate morning update AND a free $30 gift card and more!
After a rough 2019, the memory chip market could see a steady recovery in demand and a rebound in memory chip prices in 2020, said Macronix International to the publication.
Macronix is a major chip supplier to some of the world’s top electronics companies, including Sony Corp (OTC:SNEJF), Apple Inc. (NASDAQ:AAPL), Huawei and Nintendo Co., Ltd (OTC:NTDOY).
“We see 2020 as being a relatively robust year, and we see room for memory prices to rebound given the supply-demand situation,” said chairman and CEO of Macronix, Miin Wu, in an interview with the Nikkei Asian Review.
“As a leading indicator, the chip industry is like ducks in a river who know spring is coming ahead of other people,” added Wu.
Want Private Access to Benzinga Analyst?
Check out the latest strategies our team of experts are using every week so that you can always adapt to the market like the pros!—Get FULL Access to This Week's Webinar Here.
Why It Matters
Wu's comments come as China continues to pump money into its fledgling semiconductor industry.
The world’s second-largest economy wants to strengthen its home-grown semiconductor sector to reduce dependence on foreign chips amid a tech war with the U.S.
The Chinese government invested its second round of $29 billion (204 billion yuan) “Big Fund” last year to develop high-end chips in China.
Earlier in 2014, the country invested its first seed fund of 138.7 billion yuan for the home-grown chip industry.
Wu, however, said China needs at least two decades to master the industry despite its funding drive.
"From the semiconductor industry's point of view, it will still take China some 20 years to train a pool of qualified engineering talent and to build up its own technologies," said Wu.
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.