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.
The outgoing President Donald Trump's administration continues to put pressure on China as it nears the end of its term. Trump issued an amended executive order that clarifies the ban on investment in companies tied to the Chinese military, Bloomberg reports.
What Happened: The amended order issued Wednesday is tied to the executive order issued in November last year that blacklisted investing in specific companies tied to the Chinese military. The original order lacked the clarity that led to a frenzy on Wall Street.
Bloomberg notes the amended order clarifies that investors have until November to sell securities in sanctioned firms considered threats by the U.S.
However, the government left three major companies — Alibaba Group Holding Ltd (NYSE:BABA), Tencent Holdings (OTC:TCEHY), and Baidu Inc (NASDAQ:BIDU) off the ban list considering the potential economic impact, which led to these stocks soaring.
See Also: How To Buy Alibaba Stock.
Why It Matters: Subsequent statements by the Treasury Department’s Office of Foreign Assets Control post the November order on deadlines to delist companies confused brokerages, exchanges, and financial firms. Intercontinental Exchange Inc (NYSE:ICE)-owned New York Stock Exchange flip-flopped on its decision to delist China Mobile Ltd. (NYSE: CHL), China Telecom Corporation Limited (NYSE: CHA), and China Unicom Hong Kong Limited (NYSE: CHU), eventually pursuing complying with the order.
Intercontinental Exchange Chairman and CEO Jeffrey Sprecher said, “In that amalgamation, we are trying to navigate and do the right thing for this country and for the markets — and it’s definitely been complicated.”
Top U.S. banks like JPMorgan Chase & Co (NYSE: JPM), Goldman Sachs Group Inc (NYSE: GS), and Morgan Stanley (NYSE: MS) also delisted structured products listed on the Hong Kong stock exchange.
As per Bloomberg, it is unclear how the incoming Biden administration will keep the order, but Trump’s tough stance on China has Republicans and Democrats’ backing.
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!