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.
Western Asset Variable Rate Strategic Fund Inc. (the "Fund") (NYSE:GFY) announced today the results of the votes cast at the special meeting of stockholders held on November 13, 2020.
Stockholders voted to approve the liquidation and dissolution of the Fund pursuant to the Plan of Liquidation and Dissolution adopted by the Board of Directors of the Fund.
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It is expected that the effective date of the liquidation will be November 20, 2020 and the transfer agent will close the books of the Fund on that date (the "Liquidation Date"). The proportionate interests of stockholders in the assets of the Fund will be fixed on the basis of their respective holdings at the close of business on the Liquidation Date. The Fund expects its last trading day on the New York Stock Exchange ("NYSE") to be on or about November 20, 2020. As such, it is expected that prior to the opening of business on November 23, 2020, the Fund will cease trading on the NYSE. The Fund will then liquidate and distribute its remaining net assets on or about November 30, 2020.
The Fund's scheduled November distribution previously announced on August 19, 2020 will be paid to stockholders on or about November 30, 2020. The November 20, 2020 record date for such distribution remains the same.
Western Asset Variable Rate Strategic Fund Inc. is a non-diversified, closed-end management investment company that is advised by Legg Mason Partners Fund Advisor, LLC ("LMPFA"), an indirect wholly owned subsidiary of Franklin Resources, Inc. ("Franklin Resources"), and is sub-advised by Western Asset Management Company, LLC, Western Asset Management Company Limited and Western Asset Management Company Pte. Ltd., affiliates of LMPFA and indirect wholly-owned subsidiaries of Franklin Resources.
Contact the Fund at 1-888-777-0102 for additional information or consult the Fund's web site at www.lmcef.com.
Data and commentary provided in this press release are for informational purposes only. Franklin Resources and its affiliates do not engage in selling shares of the Fund.
Category: Fund Announcement
View source version on businesswire.com: https://www.businesswire.com/news/home/20201113005558/en/
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.