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.
Mario Draghi, the president of the European Central Bank, recently spoke about the European debt situation. Many investors have voiced concerns regarding the European Union as a whole as well as its currency. As a response to fears regarding the region, Draghi came out to say that the speculation is ludicrous.
Mario Draghi did admit that the sovereign debt crisis will be an epic event that will require a long, arduous recovery. He also noted that European banks and cursory businesses will be affected by the contagion over the next year. He did, however, reaffirm his belief that the Euro is a currency that remains steadfast in global foreign exchange markets.
According to Draghi, breaking up the Euro would cause a bad situation to become worse. He claimed that the consequences would be irreversible, speculating disastrous scenarios for the Eurozone should the Euro collapse. While some investors may scoff at Draghi's comments, short-term traders appeared to be appeased, bringing the Euro up over 0.3% in today's trading session.
Ultimately, Draghi did not offer concrete ideas or suggestions that would help quell traders' fears of European sovereign debt. His long-term outlook for the EU was very vague, simply stating that things could get much worse if action is not taken to contain the contagion.
At the other end of the continent, European finance ministers decided to pool in €150 billion towards the International Monetary Fund. The fund was seeking €200 billion, but certain countries are biding their time before making any investments. The largest country that was on hold was Great Britain, which announced that it will require time until January to make any investments.
The Eurozone is a complex machine with multiple organizations trying to solve one major problem. A significant overhaul of its economy is inevitable, and the region is simply scrambling to buy time to be able to take care of things on a basic level. While the fundraising process has been slow, it has been grinding along. Traders may be able to take solace in the fact that the Europeans will most likely find funding from emerging economies in order to better itself in the coming years.
Consumers have a few options when it comes to understanding the global economy. European politicians may be able to help investors gauge where the economy is heading into the future. Investors should also keep up with real-time news via platforms like Benzinga Pro in order to stay on top of major developments that move markets.
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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