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.
- JOYY Inc's (NASDAQ:YY) top two shareholders, its Chairman David Li and Xiaomi Corp (OTC:XIACY) founder Lei Jun, plan to take the social media company private in a deal at a valuation of up to $8 billion, Reuters reports.
- JOYY deserves a higher valuation as per the principal shareholders. The privatization plans coincide with heightened U.S. regulatory scrutiny on Chinese companies following political faceoffs.
- Li and Jun seek $75-$100 per share to take the cash-rich JOYY private, implying a premium of 50%-100% to the share's average price over the past month and 32.8%-77% on the August 25 closing price of $56.47.
- Li owned 23.2% with a 76% voting power. Jun had a 7.8% stake in JOYY. They aim to secure a loan using JOYY's $4.9 billion cash and cash equivalents as collateral.
- They intend to spin off JOYY's Singapore-based Bigo, which runs a live streaming platform Bigo Live and list it in Asia, likely in Hong Kong, to tap the higher valuations.
- JOYY previously disclosed plans to divest its video-based entertainment live streaming business in China to Baidu Inc (NASDAQ:BIDU).
- Price Action: YY shares traded higher by 7.05% at $60.45 in the market session on the last check Thursday.
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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