Gabelli Has Buy on Union Drilling

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.

Gabelli & Co. is out with a research report on Union Drilling Inc (NASDAQ: UDRL) and it has a Buy rate on shares.In a note to clients, Gabelli & Co. writes, "We are raising our 2011 and 2012 EPS estimates to ($0.35) and $0.15, from ($0.45) and $0.10, respectively, to reflect lower costs. The company returned to profitability in the 3Q and announced that it will sell 31 of its smaller conventional rigs via an auction in December."Shares of UDRL closed at $7.49 yesterday.

27% profits every 20 days?

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