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.
Cathie Wood-led Ark Investment Management on Monday snapped up 137,133 shares, estimated to be worth about $6.74 million, in DraftKings Inc (NASDAQ:DKNG), its second trade in the sports betting company in the aftermath of a negative short-seller report last month.
Shares of the Boston, Massachusetts-based company closed 0.14% lower at $49.16 on Monday.
A Hindenburg report published last month claimed DraftKings’ fully-owned unit SBTech to be a red flag within the DraftKings business.
See Also: Cathie Wood Loads Up $42M In DraftKings As Shares Drop On Short-Seller Report
The New York-based investment owns the shares of DraftKings via three of its active ETFs — the Ark Innovation ETF (NYSE:ARKK), the Ark Next Generation Internet ETF (NYSE:ARKW) and the Ark Fintech Innovation ETF (NYSE:ARKF).
Ark Invest deployed ARKW on Monday to buy the shares of the sports betting company.
On a consolidated basis, Ark now held 12.2 million shares, worth $599.17 million, in DraftKings, ahead of Monday’s trade.
See Also: Cathie Wood Can't Get Enough Of Uipath, Buys Another $17M Shares
Some of the other key buys for Ark on Monday included Coinbase Global Inc (NASDAQ:COIN), UiPath Inc (NYSE:PATH), Zoom Video Communications Inc (NASDAQ:ZM) and sells included Roku Inc (NASDAQ:ROKU), PayPal Holdings Inc. (NASDAQ:PYPL) and JD.com Inc (NASDAQ:JD).
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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