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.
On CNBC's "Options Action," Tony Zhang suggested a bullish options strategy in General Motors Company (NYSE:GM). He sees the stock as a play for electric vechicles and thinks there is more room on the upside.
General Motors has just broken above a significant resistance point of $46.5 and it has outperformed the S&P 500. Zhang thinks the market is shifting in its views about General Motors and its future. He expects to see a lot more upside for the stock.
To make a bullish bet, Zhang wants to sell the February $49 put for $2.55. This allows him to purchase the stock at around a 5% discount if the stock trades below $49. The trade breaks even at $46.45, or around 7% below the closing price on Friday.
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!