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.
Midway through trading Monday, the Dow traded down 0.01% to 32,776.65 while the NASDAQ rose 0.31% to 13,361.69. The S&P also fell, dropping 0.04% to 3,941.87.
The U.S. has the highest number of coronavirus cases and deaths in the world, reporting a total of 29,439,270 cases with around 534,890 deaths. Brazil reported over 11,483,370 COVID-19 cases with 278,220 deaths, while India confirmed a total of at least 11,385,330 cases and 158,720 deaths. In total, there were at least 119,956,950 cases of COVID-19 worldwide with more than 2,655,280 deaths, according to data compiled by Johns Hopkins University.
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Leading and Lagging Sectors
Utilities shares rose 0.8% on Monday. Meanwhile, top gainers in the sector included Companhia Paranaense de Energia - COPEL (NYSE:ELP), up 6%, and Azure Power Global Limited (NYSE:AZRE), up 6%.
In trading on Monday, energy shares fell 1.5%.
Top Headline
Roche Holding AG (OTC:RHHBY) announced a big-ticket acquisition that would boost its presence in the diagnostics market.
Roche said it has entered into a definitive agreement to acquire GenMark Diagnostics (NASDAQ:GNMK) for $24.05 per share in cash, or about $1.8 billion, on a fully diluted basis.
The per-share value of the deal represents a 30% premium from the $18.50 per share at which GenMark's shares closed Friday, and a 43% premium over the stock's closing price on Feb .10, when a media report broke out regarding a possible transaction.
Equities Trading UP
Rubius Therapeutics, Inc. (NASDAQ:RUBY) shares shot up 79% to $29.39 after the company reported initial clinical data from ongoing Phase 1/2 trial of RTX-240 in patients with advanced solid tumors.
Shares of Sigma Labs, Inc. (NASDAQ:SGLB) got a boost, shooting 108% to $6.94 after the company secured a contract for an initial system of its PrintRite3D in-process quality assurance solution by Lockheed Martin’s Space Additive Design & Manufacturing Center based in Sunnyvale, California.
Intec Pharma Ltd (NASDAQ:NTEC) shares were also up, gaining 33% to $6.13 after the company announced a merger with Decoy Biosystems.
Check out these big movers of the day
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Equities Trading DOWN
Torchlight Energy Resources, Inc. (NASDAQ:TRCH) shares tumbled 13% to $2.51. Torchlight Energy Resources said it is continuing to work towards regulatory requirements related to its business combination with Metamaterial.
Shares of Eli Lilly and Company (NYSE:LLY) were down 9% to $190.15. Eli Lilly gave an in-depth look at its donanemab Phase 2 trial in Alzheimer’s disease at the International Conference on Alzheimer’s and Parkinson’s Diseases..
HighPoint Resources Corporation (NYSE:HPR) was down, falling 15% to $6.85 after the company announced that it commenced voluntary Chapter 11.
Commodities
In commodity news, oil traded down 1.8% to $64.46, while gold traded up 0.3% to $1,725.20.
Silver traded up 1.1% Monday to $26.19 while copper fell 0.1% to $4.1360.
Euro zone
European shares were mostly higher today. The eurozone’s STOXX 600 rose 0.21%, the Spanish Ibex Index rose 0.51% and the German DAX 30 gained 0.07%. Meanwhile, the French CAC 40 rose 0.05%, London’s FTSE 100 fell 0.15% and Italy’s FTSE MIB rose 0.54%.
Wholesale prices in Germany rose 2.3% year-on-year in February following a flat reading in the previous month.
Economics
The New York Empire State Manufacturing Index climbed to 17.4 in March from 12.1 in February.
The Treasury International Capital report for January will be released at 4:00 p.m. ET.
Check out the full economic calendar 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.