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.
Chinese search giant Baidu Inc (NASDAQ: BIDU) will launch Hong Kong’s secondary listing on Friday. The company plans to sell around 4% of its shares, potentially raising $3 billion at the present valuation, Reuters reports.
- Baidu’s Nasdaq listed stock gained 18.1% year-to-date at $255.14. The stock price reached a peak of $339.91 on Feb. 19.
- The deal was ready since at least Tuesday. However, Baidu waited for the ease off in tech share volatility.
- Advisors have been closely watching the Hang Seng Tech Index, which fell 6.4% on Monday, marking the largest daily decline since July 16, 2020. The index rose over 5% on Thursday but remains down 1.2% for the week over negative sentiments on the city’s tech stocks.
- Baidu joins a bevy of U.S.-listed Chinese companies planning to get listed in Hong Kong, led by Alibaba Group Holding Ltd (NYSE: BABA) in 2019 when it sold $12.9 billion worth shares in Hong Kong to diversify from its sole New York listing. There were 12 secondary listings in 2020, which raised $19.06 billion.
- Price action: BIDU shares are up 4.55% at $266.75 in the pre-market session on the last check Thursday.
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.
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