September 19, 2011 9:47 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.
LDK Solar Co., Ltd.(NYSE: LDK) today announced its private placement of 4.4 million ordinary shares. Pursuant to a share repurchase program established on June 27, 2011, LDK Solar repurchased American depositary shares, each representing one ordinary share of the Company, in the open market or through privately negotiated transactions, for an aggregate amount of US$110 million between July 11 and August 26, 2011, which exceeded the permitted Restricted Payments under the Indenture dated February 28, 2011 relating to the Rmb 1.2 billion US$-Settled 10% Senior Notes due 2014 by US$12.8 million. As a remedy and for other corporate purposes, on September 19, 2011, the Company privately issued and placed 4,374,315 ordinary shares at a price of US$5.8958 per share, the average repurchase price under the share repurchase program, for an aggregate of US$25,790,086 to LDK New Energy Holding Limited, the controlling shareholder of the Company.
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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