27% profit every 20 days?
This is what Nic Chahine averages with his option 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.
- Owens Corning (NYSE:OC) reported second-quarter sales growth of 37.8% year-over-year to $2.24 billion, beating the consensus estimate of $2 billion.
- Sales by segments: Composites $583 million (+46.5% Y/Y), Insulation $806 million (+35% Y/Y), and Roofing $917 million (+35% Y/Y).
- Adjusted EPS improved to $2.60 from $0.91 in 2Q20, beating consensus estimates of $2.13.
- The gross margin expanded by 650 bps to 27.6%. The operating income increased by 153% Y/Y to $425 million, and the margin expanded by 865 bps to 18.9%.
- Owens Corning generated cash from operating activities year-to-date of $702 million, compared to $229 million a year ago. Free cash flow of $525 million.
- Adjusted EBIT margin expanded by 795 bps to 18.2%.
- The company finished the quarter with $2 billion of available liquidity, including $888 million in cash and cash equivalents.
- FY21 Outlook: The company expects the U.S. residential housing market to remain robust in the near term.
- The company expects general corporate expenses to be $150 million to $155 million, compared to the prior view of $135 million and $145 million. It expects capital additions of $460 million.
- Depreciation and amortization are now estimated to be roughly $500 million, up from $480 million. Interest expense is estimated to be $120 million to $130 million.
- Price action: OC shares trading higher by 1.93% at $94.00 in the premarket session on the last check Wednesday.
27% profit every 20 days?
This is what Nic Chahine averages with his option 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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