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.
Social media and live video company Joyy Inc is trading higher on rumors that it could sell part of its business.
What Happened: Chinese media outlet Jiemian reports that Baidu Inc (NASDAQ:BIDU) is in talks to acquire the Chinese business of Joyy Inc (NASDAQ:YY), according to Yahoo.
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The deal would exclude the company's international business, the report said.
Related Link: Esports Platforms Huya, Douyu To Merge: What Investors Should Know
Why It’s Important: The deal would continue Joyy's expansion of its its international business and retreat in China.
The company sold a large stake in esports streaming company Huya Inc (NYSE:HUYA) to Tencent Holdings (OTC:TCEHY).
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Joyy Inc has over 457 million mobile monthly active users. The company’s Bigo overseas broadcast business has surpassed its Chinese business.
The company’s live streaming segment saw year-over-year growth of 6.0% to 41.2 million in the recent quarter. Outside of China, live streaming had 61.1 million users.
The international streaming services Bigo Live and HAGO saw year-over-year growth of 41.3% and 25.3%, respectively, in the recent quarter.
Bigo revenue grew 148.8% year-over-year, driven by livestreaming.
Baidu would gain a strong Chinese livestreaming company to boost its offerings in the country if it purchases the Joyy business segment.
YY Price Action: Shares of Joyy were trading 4.37% higher to $88.85 at last check Monday.
Joyy shares have gained 61% year-to-date.
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.