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.
Elliott Management exited AT&T Inc (NYSE:T) in the third quarter of 2020, according to its latest 13F filing. The Paul Singer-founded activist hedge fund sold 5 million AT&T shares in Q3, valued at $151.15 million as of the previous quarter's end. Other exits include Ryanair Holdings plc (NASDAQ:RYAAY) 0.56 million shares valued at $37.17 million, and Spirit AeroSystems Holdings, Inc (NYSE:SPR) 50 thousand shares valued at $1.2 million at the end of Q2.
New Positions: Elliott initiated news positions in Uniti Group Inc (NASDAQ:UNIT), buying 20.48 million shares valued at $215.7 million. The holding values $197.8 million based on Monday's close.
The fund bought 15.78 million shares of Noble Energy, Inc (NASDAQ:NBL) valued at $134.93 million, which got acquired by Chevron Corporation (NYSE:CVX). It also bought 1.5 million shares of Cubic Corporation (NYSE:CUB) valued at $87.26 million at the end of Q3. The holdings value $97.82 million based on Monday's close.
Stake increase: Elliott boosted its stake in CorMedix Inc (NYSE:CRMD), more than doubling it to 1.76 million shares valuing $10.6 million, and also bought 2.98 million additional shares of Dell Technologies Inc (NYSE:DELL), valuing the total holdings of 24.11 million shares at $1.63 billion at the end of Q3.
Stake Trim: The Paul Singer-led fund trimmed its stake in B. Riley Financial Inc (NASDAQ:RILY) by 0.82 million shares, holding just 0.36 million shares valuing $8.95 million at the end of Q3. The fund also sold 88.75% of its stake in Welltower Inc (NYSE:WELL), bringing the total holdings to 0.4 million shares valuing $22.04 million.
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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.
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