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.
Following the market opening Monday, the Dow traded up 0.93% to 27687.67 while the NASDAQ fell 0.49% to 10,956.64. The S&P also rose, gaining 0.17% to 3,356.97.
The U.S. has the highest number of coronavirus cases and deaths in the world, reporting a total of 5,045,560 cases with around 162,930 deaths. Brazil confirmed a total of over 3,035,420 COVID-19 cases with 101,040 deaths, while India reported a total of at least 2,215,070 confirmed cases and 44,380 deaths. In total, there were at least 19,876,300 cases of COVID-19 worldwide with over 731,570 deaths, according to data compiled by Johns Hopkins University.
Leading and Lagging Sectors
Energy shares gained 2% on Monday. Meanwhile, top gainers in the sector included Penn Virginia Corporation (NASDAQ:PVAC), up 17%, and Centrus Energy Corp. (NYSE:LEU), up 14%.
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In trading on Monday, information technology shares fell by 0.6%.
Top Headline
Marriott International Inc (NASDAQ:MAR) reported a wider-than-expected loss for its second quarter, while sales missed views.
Marriott International posted a Q2 loss of $0.64 per share, wider than analysts’ estimates for a loss of $0.42 per share. The company reported quarterly sales of $1.46 billion, missing expectations of $1.68 billion.
Equities Trading UP
Seres Therapeutics, Inc. (NASDAQ:MCRB) shares shot up 507% to $28.17 after the company announced the results from its SER-109 Phase 3 ECOSPOR III study in recurrent C. difficile infection met the primary endpoint.
Shares of Omeros Corporation (NASDAQ:OMER) got a boost, shooting 69% to $23.91 after the company reported recovery and survival of all patients in a study evaluating Narsoplimab for the treatment of Covid-19-associated Acute Respiratory Distress Syndrome.
Trevena, Inc. (NASDAQ:TRVN) shares were also up, gaining 32% to $3.1301 after the company disclosed that the FDA has approved its OLINVYK injection.
Equities Trading DOWN
SCWorx Corp. (NASDAQ:WORX) shares tumbled 57% to $2.50. SCWorx’s common stock resumed trading on The Nasdaq Stock Market today.
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Shares of Top Ships Inc. (NASDAQ:TOPS) were down 33% to $1.51. Shares of Top Ships begin trading this morning on 1:25 reverse split basis.
Navidea Biopharmaceuticals, Inc. (NYSE:NAVB) was down, falling 31% to $3.315 after the company signed binding framework for commercialization partnership with Jubilant Radiopharma. The company also secured $25 million of committed financing.
Commodities
In commodity news, oil traded up 1.4% to $41.80, while gold traded up 0.5% to $2,039.00.
Silver traded up 3.1% Monday to $28.38, while copper rose 2.1% to $2.8505.
Euro zone
European shares were higher today. The eurozone’s STOXX 600 rose 0.4%, the Spanish Ibex Index rose 1%, while Italy’s FTSE MIB Index gained 0.5%. Meanwhile, the German DAX 30 gained 0.3%, French CAC 40 rose 0.6% and UK shares rose 0.5%.
Economics
The number of job openings rose by 518,000 to 5.9 million in June, exceeding analysts’ estimates of 4.91 million.
The Treasury is set to auction 3-and 6-month bills at 11:30 a.m. ET.
The TD Ameritrade Investor Movement Index for July will be released at 12:30 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.