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.
Logistics provider ArcBest Corp. (NASDAQ:ARCB) announced Monday that Tim Thorne, president of its less-than-truckload carrier, ABF Freight, will retire at the end of June. The division's current VP of linehaul operations, Seth Runser, will succeed Thorne in the role.
Runser has been promoted to the new role of chief operating officer at ABF Freight effective Feb. 1 and will take the helm of the division on July 1.
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Thorne's 31-year career with ABF started as a supervisor assistant in 1990. He would go on to manage service centers, run operations in Utah as a regional vice president and head ABF's linehaul operations before becoming president in 2014.
His tenure saw many milestones, including the ratification of the 2018 labor agreement with Teamsters and the implementation of a profit-sharing bonus program for union members.
"Over the past three decades, Tim has made significant and meaningful contributions to our company as ArcBest has expanded and diversified to meet customers' needs," said ArcBest Chairman, President and CEO Judy R. McReynolds. "He has approached each role with integrity, enthusiasm and excellence."
Thorne said, "We have the very best people in the business, and it has been a great honor to serve as president of ABF."
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Runser, 36, started with ABF in 2007 as a management trainee. He too has held a variety of roles with increasing responsibility throughout his career with ABF, including operations supervisor, regional training specialist, service center manager and regional vice president.
Image: Seth Runser (Photo credit: ArcBest)
"Seth is a goal-oriented and values-driven leader who has a deep knowledge of our freight operations," McReynolds said. "He will work to facilitate growth and ensure our ABF team continues its strong commitment to quality and providing a great customer experience."
The press release said Thorne and Runser will continue to work together through the transition process.
"I am truly honored to be the next president of ABF, and I'm grateful to Judy for the confidence she has placed in me and to Tim for his leadership and support. We have a proud history and are well positioned for the future. I'm excited to work with our team to achieve great things," Runser added.
Click for more FreightWaves articles by Todd Maiden.
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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.