July 27, 2011 7:11 AM | 1 min read |
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.
In conjunction with the Convertible Senior Notes offering, FNF (NYSE: FNF) intends to use the net proceeds to repay outstanding principal and interest under its revolving credit facility. Any remaining net proceeds, along with concurrent borrowings under FNF's revolving credit facility, will be used to repurchase up to $75 million of FNF's common stock to acquire shares potentially being sold as part of hedging strategies by certain investors in the notes and to minimize future potential equity dilution resulting from the offering. To the extent that there are any remaining proceeds from this offering after the uses described above, we expect to use them, plus a borrowing under our revolving credit facility, to repay at maturity our outstanding 7.30% notes due August 15, 2011, in the aggregate principal amount of $165.6 million.
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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