November 4, 2011 4:20 PM | 2 min read
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.
This is your Benzinga news summary and traders' summary for Friday, November 4, 2011, covering headlines from Friday's trading session.Today at market close, the Dow Jones Index traded down about 61.23 points or 0.51%, the S&P 500 traded 0.63% lower, the Nasdaq Composite Index traded down 0.44%, and the U.S. dollar trades higher near the $77.20 level. Earlier today, UBS upgraded Microchip Technology (NASDAQ: MCHP) to Buy and Wedbush upgraded Carmike Cinemas (NASDAQ: CKEC) to Outperform. View all of
today's upgrades here.Goldman Sachs downgraded Abercrombie & Fitch (NYSE: ANF) to Neutral and Credit Suisse downgraded MDC Holdings (NYSE: MDC) to Neutral. View all of
today's downgrades here.Overseas, European markets ended their trading session lower. Britain's FTSE 100 slid by 0.33%, Germany's DAX declined by 2.72% and France's CAC 40 decreased by 2.25% on the session. Asian stocks ended their session higher, however. China's Shanghai Index gained 0.80%, Japan's Nikkei 225 rallied by 1.86%, and the Hang Seng index increased by 3.12%.On the economic calendar, Change in Nonfarm Payrolls was 80K versus an estimate of 95K, Change in Manufacturing Payrolls was 5K versus an estimate of 2K, and the Unemployment Rate came in at 9% versus an estimate of 9.1%. On the commodity front,
gold and
silver futures traded higher today, with gold trading about 0.7% higher today. Energy futures are higher, with
crude oil up over 0.32% near the $94.36 level and
gasoline futures are trading higher by about 1.3%.
Natural Gas futures are higher by about 0.34% and
copper futures are trading over 0.03% lower.On the earnings front this afternoon, NetSuite (NYSE: N) Guides Q4 EPS $0.04 vs $0.06 Est; Revenue $63-63.5M vs $62.9M Est; 2011 EPS $0.15, Had Seen $0.13-0.15; 2011 Revenue $235.2M-235.7M, Had Seen $233-234M; Great Plains Energy (NYSE: GXP) Reports Q3 EPS $0.91 vs $0.83 Est; Revenues $773.7M vs $745.26M Est; Argo Group International (NASDAQ: AGII) Reports Q3 EPS $(0.37) vs $(0.63) Est; Revenues $303.5M vs $253.18M Est.In corporate news, Jefferies (NYSE: JEF) has been extremely turbulent in today's trading
due to fears of the firm's exposure to European sovereign debt. In the afternoon, it released a statement divulging its positions in the PIIGS countries. It claims to be net short the region by $9 million.HCA (NYSE: HCA) announced that it will be commencing a public offering of $500 million of senior notes. The company plans to use the proceeds for general corporate actions.Armstrong World Industries (NYSE: AWI) announced that
it has acquired Intalite Inc. Terms of the transaction were undisclosed.Today's movers include:
MedAssets (NASDAQ: MDAS) +17.57% after reporting strong Q3 earnings yesterday.
Universal Display (NASDAQ: PANL) +17.90% after reports of insider buying.
Genworth Financial (NYSE: GNW) +17.69% after reporting positive earnings yesterday.
MasTec (NYSE: MTZ) -19.67% on disappointing earnings and guidance.
This concludes your news summary for November 4, 2011.
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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