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.
Thanks to Tesla, Inc's (NASDAQ:TSLA) 6.59% surge on Monday, its Chief Executive Officer Elon Musk has become the world's second-richest person, surpassing Microsoft Corporation (NASDAQ:MSFT) co-founder Bill Gates, according to Bloomberg.
What Happened: Musk is ranked second with a fortune of $127.9 billion, followed by Bill Gates with $127.7 billion in wealth, in Bloomberg's Billionaires Index.
The Tesla CEO, who started the year as the thirty-fifth richest on the list, has added $100 billion in 2020, the largest addition to the net worth of any in the list of world's 500 richest people. More than three-quarters of his wealth is comprised of Tesla shares, which have grown a massive 523.7% year-to-date.
Bloomberg also noted that Gates' ranking would have been higher had he not donated more than $27 billion to his foundation since 2006. Amazon.com Inc (NASDAQ:AMZN) chief Jeff Bezos is still the world's richest with a fortune of $182 billion.
Why It Matters: Though this year has been good for Tesla's stock, it can get even better in 2021. Tesla stands to gain from its inclusion in the S&P 500 index.
On one side, the EV maker has been a target for short sellers, but on the other, it has also received $578 and $1,000 price targets by analysts.
Price Action: TSLA shares are trading higher by 2.92% to $537.11 in the pre-market session on the last check Tuesday.
Image Courtesy: Wikimedia
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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