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.
Alibaba Group Holding (NYSE:BABA) is looking to shed its entire stake in a local television network as Beijing wants the Jack Ma-founded company to sell some of its media assets, Bloomberg News reported on Thursday.
What Happened: Alibaba’s investment arm is looking to sell its 5.01% stake in Mango Excellent Media Co, a TV shopping and entertainment network, just nine months after it picked up the stake.
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The e-commerce giant is seeking a waiver from a one-year lock-up agreement, Bloomberg noted.
See Also: Alibaba-Backed Ant To Share Consumer Credit Data With Chinese Central Bank
Why It Matters: Beijing has been tightening its scrutiny on Chinese tech firms over fears of their growing influence of public opinion in the communist country. As per the report, China wants Alibaba to sell some of its media assets, including the stake in the South China Morning Post.
Price Action: BABA shares, which have sunk 33.6% so far this year, closed 0.46% lower at $151.19 on Thursday.
For news coverage in French, Italian, or Spanish, check out Benzinga France, Benzinga Italia, or Benzinga España.
Photo: Courtesy of Alibaba
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.