September 2, 2011 3:59 PM | 2 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.
US non-farm payrolls were unchanged in August; Unemployment rate 9.1%; July and June payrolls revised lower Greek 2-year note reaches 79.60% as Troika bugs out of Athens early Japanese FinMin Azumi fears hollowing out of Japanese industry unless action taken against strong yen German 10 year yields fall below 2.0% intraday, end at 2.01%, a record low Goldman, RBS expect Fed to replay Operation Twist at next FOMC meeting IMF opposes Greek collateral; would put them lower in the capital structure when the inevitable restructuring comes Merkel: Mustn't pool debt of Euro zone members Irish deficit EUR 20.4 bln in first 8 months of 2011 US 10-year note dips below 2%, ends at 2.01% S&P 500 falls 2.4% to 1173 Gold rises $54 to $1885 on QE2 anticipationThe CHF surged versus both the dollar and euro after US non-farm payrolls came in weaker than expected. Combined with fears that Greece is spinning further out of control and that Italy is backsliding on austerity pledges, the franc reclaimed its safe-haven mantle with a vengeance. EUR/CHF fell all the way to 1.10 before recovering after the data on fears of SNB action. We end the day at 1.1215. USD/CHF spiked down to 0.7711 before bouncing and ends at 0.7900.EUR/USD tried to rally after the poor data but the combination of risk off and the European woes noted above saw the bounce fade very quickly from 1.4288 we slipped as low as 1.4183 late in the US session. There was a good battle around 1.4200, where a barrier was struck...Another is seen at 1.4150, where chart support is noted as well, keeping traders reluctant to chance the euro too much lower after weeks of 1.4150/1.4550 range trade.CAD weakened on the day as its biggest customer looks ever more likely to slip back toward recession. Demand for Canadian manufactured goods as well as commodities will suffer if the US economy continues to slow. AUD slumped from intraday highs of 1.0727 shortly after the US data, hitting 1.0623 late in the day. We end at 1.0662.USD/JPY ends little changed after some volatility around the data. 79.54/76.88 was the range. We end at 76.75.
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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