August 31, 2011 7:00 AM | 1 min read |
27% profits every 20 days?
This is what Nic Chahine averages with his options 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.
Joy Global Inc (NASDAQ: JOYG) reported a 46% surge in its fiscal third-quarter profit and raised its forecast for the year. Joy Global's quarterly profit climbed to $173.1 million, or $1.62 per share, from $118.5 million, or $1.13 per share, in the year-ago period. Its sales surged 34% to $1.14 billion. However, analysts were expecting earnings of $1.51 per share on sales of $1.15 billion. Joy Global raised its outlook for fiscal-year earnings from continuing operations by $0.40 per share to a range of $5.70 to $6.00 per share. Analysts expected earnings of $5.70 per share.Cameron International Corp (NYSE: CAM) agreed to buy LeTourneau Technologies Inc from Joy Global for around $375 million in cash.JOYG shares gained 0.01% to $82.55 in after-hours trading.
27% profits every 20 days?
This is what Nic Chahine averages with his options 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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