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.
JPMorgan Chase & Co (NYSE:JPM) is in plans to set up another wealth management joint venture in China, reports Bloomberg.
What Happened: The talks between JPMorgan and the commercial banking entity China Merchants Bank ADR (OTC:CIHKY) are in the early stages and the U.S. bank may not have a controlling interest in the venture, people familiar with the matter told Bloomberg.
In November, JPMorgan bought a 20% stake from its local JV partner Shanghai Waigaoqiao FTZ, raising the American investment bank’s control to 71%.
Why Does It Matter: The $53 trillion Chinese financial industry is witnessing a flurry of interest from financial entities after the regulators opened up the nation’s economy to foreign investors. The new Chinese regulations allow foreign entities to exercise 100% control in their mutual fund joint ventures.
In the first week of December, there were reports that Goldman Sachs Group Inc (NYSE:GS) will acquire 100% of Goldman Sachs Gao Hua Securities Co. (GSGH) — its securities venture in China.
Price Action: JPM stock closed at $125.87, 0.94% lower on Monday.
Photo courtesy: Wikimedia
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.
ENTER TO WIN $500 IN STOCK OR CRYPTO
Enter your email and you'll also get Benzinga's ultimate morning update AND a free $30 gift card and more!