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.
Shares of nutrition company MYOS Corporation (NASDAQ:MYOS) were more than doubling Wednesday.
The Myos Reverse Merger: Myos announced late Tuesday that it has agreed to a combination with MedAvail, Inc. in a reverse merger.
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MedAvail is a private, in-clinic, telemedicine-enabled pharmacy company that has developed a proprietary robotic dispensing platform and home delivery operation focused on the Medicare Advantage market in the United States.
Under the merger agreement, a wholly owned subsidiary of Myos will merge with and into MedAvail, with MedAvail being the surviving corporation.
Upon consummation of the merger, the combined company will operate under the name MedAvail and the shares will continue to trade on the Nasdaq.
The transaction, which has been approved by the boards of both companies, is expected to close Dec. 31.
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The Myos Deal Logic: Myos said the combined company will focus on advancing MedAvail's network of in-clinic pharmacies within Medicare sites across the U.S. Myos' muscle health business will be spun off as a private unaffiliated company, according to the press release.
MedAvail will pay the spun-out business $2 million in cash upon closing of the merger, and issue a promissory note for an additional $3 million, payable in installments within one year of closing, Myos said.
Upon completion of the merger, Myos said its muscle health business will own about 3.5% of the combined company and MedAvail's security holders and new investors the remaining 96.5%.
"This transaction will provide our shareholders with equity in a well-capitalized, commercial stage healthcare technology company backed by marquee healthcare investors, while simultaneously infusing capital to support the ongoing private MYOS business," Myos CEO Joseph Mannello said in a statement.
MYOS Price Action: At last check, Myos shares were rallying 293.18% to $3.46.
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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.