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 2.43% to 23959.78 while the NASDAQ rose 4% to 8,519.79. The S&P also rose, gaining 2.98% to 2843.81.
The U.S. is the epicenter of the coronavirus pandemic with the highest number of cases and deaths around the world. U.S. reported a total of 582,500 coronavirus cases with around 23,600 deaths. Spain confirmed a total of over 172,500 coronavirus cases with 18,050 deaths, while Italy reported a total of at least 159,500 confirmed cases and 20,460 deaths. In total, there were at least 1,929,900 cases of COVID-19 worldwide with over 120,450 deaths, according to data compiled by Johns Hopkins University.
Leading and Lagging Sectors
Consumer discretionary shares climbed 4% on Tuesday. Meanwhile, top gainers in the sector included GameStop Corp. (NYSE:GME), up 20%, and YETI Holdings, Inc. (NYSE:YETI), up 16%.
In trading on Tuesday, financial shares fell 0.6%.
Top Headline
JPMorgan Chase & Co (NYSE:JPM) reported a strong decline in its earnings for the first quarter.
The bank's net income declined to $2.87 billion, or $0.78 per share, down from $9.18 billion, or $2.65 per share, in the year-ago period. Analysts were projecting earnings of $1.84 per share. The company reported sales of $28.3 billion and managed sales of $29.1 billion versus the $29.670 billion estimate.
Equities Trading UP
Sonnet BioTherapeutics Holdings, Inc. (NASDAQ:SONN) shares shot up 85% to $9.14.
Shares of New Age Beverages Corporation (NASDAQ:NBEV) got a boost, shooting 28% to $1.66 after the company reported better-than-expected Q1 preliminary sales results.
Aldeyra Therapeutics, Inc. (NASDAQ:ALDX) shares were also up, gaining 13% to $2.7966 after the company reported top-line Phase 1 clinical trial results and clinical development plans for ADX-629.
Equities Trading DOWN
CorEnergy Infrastructure Trust, Inc. (NYSE:CORR) shares tumbled 40% to $14.56 the company issued business update and lowered dividend outlook.
Shares of NeuroBo Pharmaceuticals, Inc. (NASDAQ:NRBO) were down 44% to $16.45. NeuroBo Pharma priced its 750,000 share common stock offering at $10 per share.
SCWorx Corp. (NASDAQ:WORX) was down, falling 27% to $8.74. SCWorx shares surged 425% on Monday after the company announced the first installment of a purchase order for 48 million coronavirus rapid testing units.
Commodities
In commodity news, oil traded down 7% to $20.85, while gold traded up 0.4% to $1,768.50.
Silver traded up 3.9% Tuesday to $16.14, while copper rose 1.3% to $2.3315.
Euro zone
European shares closed mostly higher today. The eurozone’s STOXX 600 rose 0.64%, the Spanish Ibex Index rose 0.54%, while Italy’s FTSE MIB Index fell 0.36%. Meanwhile, the German DAX gained 1.25%, and the French CAC 40 climbed 0.38% while UK shares fell 0.88%.
Economics
U.S. import prices dropped 2.3% in March, versus a revised 0.7% fall in February. Export prices fell 1.6% in March, following a 1.1% decline in February.
The Johnson Redbook Retail Sales Index fell 8.3% during the first week of April versus March.
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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