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.
Amazon.com, Inc. (NASDAQ:AMZN) is acting as its own quasi-independent country by putting many thousands of people to work, creating its own social policies, and diplomatic disputes with countries like France, according to Jim Cramer.
Amazon's Dominance
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!
Amazon stands out among its tech and internet peers as becoming a "huge beneficiary" during the coronavirus (COVID-19) pandemic, Cramer said Thursday on "Squawk on the Street." By comparison, Alphabet Inc (NASDAQ:GOOG) (NASDAQ:GOOGL) said it's slowing down its new hiring while Amazon is hiring by the tens of thousands.
In fact, Amazon has hired more American workers over the past 10 years than any other business. This makes it a clear "juggernaut" with the capabilities to "wipe out" everyone by being the "grim reaper."
Cramer went on to recall a 2017 interview with John Malone who told CNBC's David Faber that Amazon is like the "death star" -- an accurate acronym that grew in relevance over the years.
Benzinga is covering every angle of how the coronavirus affects the financial world. For daily updates, sign up for our coronavirus newsletter.
Why It's Important
Amazon could very well be the "grim reaper" that can take on any and every industry, Cramer said. There are few if any items that can't be bought on Amazon as part of a subscription which means the consumer doesn't need to even remember to make their regular purchases because it will be delivered automatically.
Amazon could prove to be the "greatest thing that ever happened to the American consumer."
There is no reason why Amazon can't be both, Cramer said.
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.