September 9, 2011 8:07 AM | 1 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.
Citigroup released a research report on Dendreon Corporation (NASDAQ: DNDN) announcing they will not change their company views while implementing a necessary restructuring plan.In the report Citigroup writes, “Dendreon announced a restructuring plan after market close, with a reduction of 500 employees or ~25% of total headcount. The Co expects the restructuring to save ~$120M annually, and expects COGS to be ~50% by YE12. With the reduced cost structure, the Co expects to break even on non-GAAP basis at ~$500M revenues run rate. The restructuring plan reflects a shift in management's expectation for the launch trajectory. In addition, the Company also announced gross revenues of ~$22M in August, a 16% increase over July sales of $19M.”Citigroup has a Hold rating and a target price of $14.00 on Dendreon Corporation, which closed yesterday at $10.88.
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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