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.
When insiders sell shares, it indicates their concern in the company’s prospects or that they view the stock as being overpriced. Either way, this signals an opportunity to go short on the stock. Insider sales should not be taken as the only indicator for making an investment or trading decision. At best, it can lend conviction to a selling decision.
Below is a look at a few recent notable insider sales. For more, check out Benzinga's insider transactions platform.
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Carvana
The Trade: Carvana Co. (NYSE:CVNA) 10% owner Ernest Garcia Ii, Verde Investments Inc disposed a total of 120000 shares at an average price of $337.08. The insider also acquired 60000 shares. The insider received $20,224,943.48 as a result of the transaction.
What’s Happening: Carvana is expected to release results for its second quarter on August 5.
What Carvana Does: Carvana Co is an e-commerce platform for buying and selling used cars.
Conagra Brands
The Trade: Conagra Brands Inc (NYSE:CAG) Executive Vice President, General Counsel and Corporate Secretary Colleen Batcheler sold a total of 33803 shares at an average price of $34.20. The insider received $1,156,062.60 from selling those shares.
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What’s Happening: Conagra, earlier during the month, reported upbeat quarterly results but lowered its FY22 earnings forecast.
What Conagra Brands Does: Conagra Brands, headquartered in Chicago, Illinois, operates as a consumer packaged goods food company in North America.
Snap
The Trade: Snap Inc (NYSE:SNAP) General Counsel Michael Osullivan sold a total of 25000 shares at an average price of $77.43. The insider received $1,935,756.13 as a result of the transaction.
What’s Happening: Snap recently reported better-than-expected Q2 results and issued strong Q3 sales guidance.
What Snap Does: Snap, which refers to itself as a camera company, has one of the most popular social networking apps, Snapchat, in developed regions such as North America and Europe.
CSX
The Trade: CSX Corp (NYSE:CAG) EVP and CLO Nathan Goldman sold a total of 35000 shares at an average price of $32.87. The insider received $1,150,450.00 from selling those shares.
What’s Happening: CSX recently reported better-than-expected Q2 results.
What CSX Does: CSX, incorporated in 1978, provides rail-based freight transportation services.
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.