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.
Midway through trading Tuesday, the Dow traded down 0.51% to 34,963.96 while the NASDAQ fell 1.85% to 14,565.52. The S&P also fell, dropping 0.81% to 4,386.41.
The U.S. has the highest number of coronavirus cases and deaths in the world, reporting a total of 34,533,180 cases with around 610,950 deaths. India confirmed a total of at least 31,440,950 cases and 421,380 deaths, while Brazil reported over 19,707,660 COVID-19 cases with 550,500 deaths. In total, there were at least 194,778,390 cases of COVID-19 worldwide with more than 4,168,690 deaths, according to data compiled by Johns Hopkins University.
Leading and Lagging Sectors
Utilities shares climbed 1.2% on Tuesday. Meanwhile, top gainers in the sector included Middlesex Water Company (NASDAQ: MSEX), up 2% and National Fuel Gas Company (NYSE:NFG) up 2%.
In trading on Tuesday, consumer discretionary shares fell 2%.
Top Headline
General Electric Company (NYSE:GE) reported better-than-expected results for its second quarter.
GE reported quarterly adjusted earnings of $0.05 per share, missing analysts’ estimates of $0.04 per share. The company’s revenue came in at $18.30 billion, versus expectations of $18.13 billion.
GE boosted its industrial free cash flow outlook to $3.5 billion to $5 billion.
Equities Trading UP
EyeGate Pharmaceuticals, Inc. (NASDAQ: EYEG) shares shot up 36% to $4.25 after the company said it has entered a non-binding letter of intent to acquire Bayon Therapeutics, a private ophthalmic specialty pharmaceutical company focused on using light sensitive "photoswitch" small molecules, specifically designed to restore vision in patients with inherited and age-related degenerative retinal diseases. The company also announced that Brian Strem, co-founder and managing director of Bayon Therapeutics, was appointed as permanent president, CEO and board member, effective immediately.
Shares of Dyadic International, Inc. (NASDAQ: DYAI) got a boost, shooting 20% to $4.1450 after the company reported technology transfer and licensing agreement with South Africa's Rubic Consortium aiming to 'develop and commercialize vaccines for distribution throughout the African continent.'
Oragenics, Inc. (NYSE:OGEN) shares were also up, gaining 62% to $1.0099 after the company announced it entered into a licensing agreement with the National Research Council of Canada that will enable it to pursue the rapid development of vaccines against SARS-CoV-2 and its variants.
Check out these big movers of the day
Equities Trading DOWN
SkyWater Technology, Inc. (NASDAQ:SKYT) shares tumbled 40% to $17.39. SkyWater Technology reported that it will invest $56 million in capacity expansion and gallium nitride technology.
Shares of Infinity Pharmaceuticals, Inc. (NASDAQ: INFI) were down 30% to $1.56 after the company highlighted the presentation of updated data from Phase 2 MARIO-275 trial in urothelial cancer and Phase 2 MARIO-3 trial in triple negative breast cancer.
GasLog Partners LP (NYSE:GLOP) was down, falling 23% to $4.0750 after the company reported downbeat Q2 results.
Commodities
In commodity news, oil traded down 0.6% to $71.47, while gold traded up 0.2% to $1,802.20.
Silver traded down 2.7% Tuesday to $24.645 while copper fell 0.4% to $4.5650.
Euro zone
European shares were lower today. The eurozone’s STOXX 600 fell 0.52%, the Spanish Ibex Index fell 0.82% and the German DAX 30 dropped 0.54%. Meanwhile, the London’s FTSE 100 fell 0.37%, French CAC 40 fell 0.63% and Italy’s FTSE MIB declined 0.76%.
Producer prices in Spain rose 15.4% year-over-year in June. The Ifo Business Climate indicator for Germany fell to 100.8 in July from 101.7 a month ago.
Economics
The Federal Open Market Committee will begin its two-day policy meeting today.
US durable goods orders rose 0.8% for June.
The S&P CoreLogic Case-Shiller 20-city home price index rose 17% year-over-year in May.
The FHFA house price index rose 1.7% from the prior month in May.
The Conference Board’s consumer confidence index increased to 129.1 for July from previous reading of 128.9.
The Treasury is set to auction 5-year notes at 1:00 p.m. ET.
Data on money supply for the latest week will be released at 1:00 p.m. ET.
Check out the full economic calendar here
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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