UPDATE: Bank of America Lowers Price Target on K-Swiss to $2.50

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.

According to Bank of America, K-Swiss (NASDAQ: KSWS) price target is lowered to $2.50.Bank of America said that 3Q11 EPS of –($0.38) (excluding $0.05 EPS loss from discontinued ops), was below the fcst of –($0.21) as revenue growth of 30.6%, SGA leverage to 52.6% of sales (vs. LY 63.7%), and GM declines to 35.8% (vs. LY 40.7%) were all below the fcst. “Our PO is 12.5x our 2013E EPS of $0.20, a slight discount to KSWS historical average 2-yr forward P/E from 1999-2006 of 13x (the last time KSWS had positive EPS).”K-Swiss closed yesterday at $2.94.

27% profits every 20 days?

ENTER TO WIN $500 IN STOCK OR CRYPTO

Enter your email and you'll also get Benzinga's ultimate morning update AND a free $30 gift card and more!