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.
Earlier this year, Penn National Gaming, Inc (NASDAQ:PENN) shares surged on news it agreed to buy a 36% stake in Barstool Sports Inc. for $163 million.
On Tuesday afternoon, Barstool Sports founder Dave Portnoy held a Periscope chat with CNBC's Jim Cramer for some trader talk.
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Dead Cat Bounce?
Portnoy asked Cramer if the stock market has reached a bottom or if Tuesday's rebound is a "dead cat bounce." Cramer responded with a simple "no." Portnoy further speculated that the market is making "everybody else" rich to which Cramer responded this is "probably true."
Stock Talk
Back on March 12, Portnoy said he will "day trade my way out of this thing." Since then, Portnoy tweeted he is up $10 on Shake Shack Inc (NYSE:SHAK).
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On Tuesday, Portnoy said he bought Electronic Arts Inc. (NASDAQ:EA), although Cramer hopped in to say the company is "getting killed."
Instead, there are a handful of stocks that should experience a sharp rebound, or a "coiled spring," including Shopify Inc (NYSE:SHOP), Trade Desk Inc (NASDAQ:TTD),
NAT Gets A Pop
Shares of Nordic American Tanker Ltd (NYSE:NAT) moved higher during the chat after Cramer advised Portnoy to buy shares. The stock is backed by an 18% yield and "massive" insider buying activity. Cramer said the company stands to benefit from an oil market that is selling for "close to nothing," but still requires tankers to be moved around.
Cramer also recommends not paying more than $3 per share. Cramer also highlighted Advanced Micro Devices, Inc. (NASDAQ:AMD) and Zoom Video Communications Inc (NASDAQ:ZM) as potential plays after recent sell-offs.
Related Links:
Penn National Gaming Shares Surge After Buying Stake In Barstool Sports
One Interview With Cramer, Everyone Knows The Rule: Portnoy, Penn National CEO Talk Sports Betting
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.