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.
Pre-open movers
U.S. stock futures traded higher in early pre-market trade after the House of Representatives voted early Saturday morning to approve President Joe Biden's $1.9 trillion Coronavirus relief package. The U.S. Senate will begin considering the relief bill passed by the House over the weekend. Investors are awaiting earnings reports from DENTSPLY SIRONA Inc (NASDAQ:XRAY), Perrigo Company PLC (NYSE:PRGO), Nio Inc - ADR (NYSE:NIO) and Zoom Video Communications Inc (NASDAQ:ZM).
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The Markit manufacturing PMI for February is scheduled for release at 9:45 a.m. ET, while the ISM manufacturing composite index for February and data on construction spending for January will be released at 10:00 a.m. ET. Federal Reserve Bank of New York President John Williams is set to speak at 9:00 a.m. ET, while Federal Reserve Governor Lael Brainard will speak at 9:05 a.m. Federal Reserve Bank of Atlanta President Raphael Bostic is set to speak at 2:00 p.m. ET.
Futures for the Dow Jones Industrial Average climbed 315 points to 31,227.00 while the Standard & Poor’s 500 index futures rose 42.50 points at 3,851.75. Futures for the Nasdaq 100 index rose 201.25 points to 13,112.25.
The U.S. has the highest number of COVID-19 cases and deaths in the world, with total infections in the country exceeding 28,605,660 with around 513,090 deaths. India reported a total of at least 11,112,240 confirmed cases, while Brazil confirmed over 10,551,250 cases.
Oil prices traded higher as Brent crude futures rose 1.9% to trade at $65.62 per barrel, while US WTI crude futures rose 1.9% to trade at $62.66 a barrel. The total number of active U.S. oil rigs rose by 4 to 309 rigs this week, Baker Hughes Inc reported Friday.
A Peek Into Global Markets
European markets were higher today. The Spanish Ibex Index rose 1.9% and STOXX Europe 600 Index climbed 1.8%. The French CAC 40 Index rose 1.7%, German DAX 30 climbed 1.3% while London's FTSE 100 rose 1.9%. The IHS Markit Eurozone manufacturing PMI was revised slightly higher to 57.9 in February from a preliminary estimate of 57.7. Spain’s manufacturing PMI climbed to 52.9 in February from 49.3 a month ago, while German manufacturing PMI increased to 60.7 in February from 57.1 in January. French manufacturing PMI climbed to 56.1 in February from 51.6 in January.
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Asian markets traded higher today. Japan’s Nikkei 225 rose 2.41%, China’s Shanghai Composite gained 1.21% and Hong Kong’s Hang Seng Index rose 1.63%. Australia’s S&P/ASX 200 rose 1.7%, while India’s BSE Sensex rose 1.2%. The Caixin China general manufacturing PMI fell to 50.9 in February from January's reading of 51.5, while Japan’s manufacturing PMI climbed to 51.4 in February versus 49.8 a month ago. Australian manufacturing PMI fell to 56.9 in February from January's level of 57.2, while business inventories were unchanged quarter-on-quarter during the three months to December 2020.
Broker Recommendation
Chardan Capital maintained Moderna, Inc. (NASDAQ:MRNA) with a Buy and raised the price target from $107 to $182.
Moderna shares rose 2.1% to $158.00 in pre-market trading.
Check out other major ratings here
Breaking News
- AstraZeneca plc (NASDAQ:AZN) sold its 7.7% stake in Moderna Inc. (NASDAQ:MRNA) for over $1 billion, the Times reported.
- Chinook Therapeutics Inc (NASDAQ:KDNY) and Evotec SE (OTC:EVTCY) have collaborated for the discovery and development of precision medicine therapies for patients with chronic kidney diseases (CKD).
- Rocket Lab USA Inc. is nearing a deal to go public through a merger with Vector Acquisition Corp. (NASDAQ:VACQ), the Wall Street Journal reported.
- Johnson & Johnson's (NYSE:JNJ) single-shot coronavirus vaccine candidate has been cleared as the third vaccine in the U.S. for emergency use, a day after it received the unanimous backing of an independent Food and Drug Administration expert panel.
Check out other breaking news here
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.