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.
Toward the end of trading Tuesday, the Dow traded up 1.77% to 23,080 while the NASDAQ rose 0.88% to 7,982.76. The S&P also rose, gaining 1.57% to 2,705.53.
The U.S. is now the epicenter of the coronavirus pandemic with the highest number of cases around the world. U.S. reported a total of 368,400 coronavirus cases with around 10,900 deaths. Spain confirmed a total of over 140,500 coronavirus cases with 13,700 deaths, while Italy reported a total of at least 132,500 confirmed cases and 16,500 deaths. In total, there were at least 1,359,300 cases of COVID-19 worldwide with over 75,900 deaths, according to data compiled by Johns Hopkins University.
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!
Leading and Lagging Sectors
Energy shares climbed 5.1% on Tuesday. Meanwhile, top gainers in the sector included Western Midstream Partners, LP (NYSE:WES), up 27%, and DCP Midstream, LP (NYSE:DCP), up 23%.
In trading on Tuesday, utilities shares rose by just 0.8%.
Top Headline
Greenbrier Companies Inc (NYSE:GBX) reported better-than-expected earnings for its second quarter, while sales missed views.
Greenbrier reported quarterly earnings of $0.46 per share, beating analysts’ estimates of $0.29 per share. The company’s sales came in at $623.8 million, missing the consensus view of $798.97 million.
Greenbrier has lowered its global workforce by 3,500 employees. The company announced plans to suspend earlier issued guidance and cut overhead costs.
Equities Trading UP
Akers Biosciences, Inc. (NASDAQ:AKER) shares shot up 22% to $5.70. Akers Biosciences filed amendment to $25 million offering of stock and debt securities. Akers Biosciences shares jumped around 147% on Monday following an update from the company regarding its COVID-19 vaccine development program.
Shares of Borr Drilling Limited (NYSE:BORR) got a boost, shooting 142% to $1.9150 after surging over 37% on Monday.
Sasol Limited (NYSE:SSL) shares were also up, gaining 64% to $4.17 amid hopes of production cuts by key producers to sustain prices, as well as positive economic sentiment on a potential leveling off of coronavirus cases in some regions.
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.
Equities Trading DOWN
SeaChange International, Inc. (NASDAQ:SEAC) shares tumbled 26% to $2.67 after reporting weaker-than-expected Q4 results.
Shares of Chimera Investment Corporation (NYSE:CIM) were down 18% to $6.66 after the company reported a public offering of convertible senior notes.
Golar LNG Limited (NASDAQ:GLNG) was down, falling 23% to $4.7010.
Commodities
In commodity news, oil traded down 7% to $24.26, while gold traded down 1% to $1,677.60.
Silver traded up 1.3% Tuesday to $15.37, while copper rose 2.3% to $2.268.
Euro zone
European shares closed higher today. The eurozone’s STOXX 600 rose 1.88%, the Spanish Ibex Index rose 2.3%, while Italy’s FTSE MIB Index climbed 2.19%. Meanwhile, the German DAX gained 2.79%, and the French CAC 40 rose 2.12% while UK shares rose 2.19%.
Economics
The Johnson Redbook Retail Sales Index rose 0.9% during March versus February.
The IBD/TIPP Economic Optimism Index declined 6.2 points to a reading of 47.8 in April.
The number of US job openings fell by 130,000 to 6.882 million in February, versus a revised 7.012 million in the earlier month.
Data on consumer credit for February will be released at 3:00 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.