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.
Pre-open movers
U.S. stock futures traded lower in early pre-market trade after closing mixed in the previous session. Investors are awaiting earnings results from FactSet Research Systems Inc. (NYSE:FDS), United Natural Foods Inc (NYSE:UNFI) and Micron Technology, Inc. (NASDAQ:MU).
Data on wholesale inventories and international trade in goods will be released at 8:30 a.m. ET. The S&P Corelogic Case-Shiller home price index and FHFA's house price index will be released at 9:00 a.m. ET. The Conference Board’s consumer confidence index and Richmond Fed's manufacturing index for September will be released at 10:00 a.m. ET. Federal Reserve Bank of Chicago President Charles Evans is set to speak at 9:00 a.m. ET, while Federal Reserve Bank of St. Louis President James Bullard will speak at 1:40 p.m. ET. Federal Reserve Bank of Atlanta President Raphael Bostic is set to speak at 3:00 p.m. ET, while Federal Reserve Bank of St. Louis President James Bullard will speak at 7:00 p.m. ET.
Futures for the Dow Jones Industrial Average dipped 91 points to 34,652.00 while the Standard & Poor’s 500 index futures fell 26 points to 4,407.00. Futures for the Nasdaq 100 index fell 173.25 points to 15,021.50.
The U.S. has the highest number of COVID-19 cases and deaths in the world, with total infections in the country exceeding 43,116,440 with around 690,430 deaths. India reported a total of at least 33,697,580 confirmed cases, while Brazil confirmed over 21,366,390 cases.
Oil prices traded higher as Brent crude futures rose 0.9% to trade at $79.43 per barrel, while US WTI crude futures rose 1.1% to trade at $76.26 a barrel. The API’s report on crude oil inventories will be released today.
A Peek Into Global Markets
European markets were lower today. The Spanish Ibex Index fell 0.9% and STOXX Europe 600 Index dipped 1.1%. The French CAC 40 Index declined 1.2%, London’s FTSE 100 fell 0.3% while German DAX 30 dropped 0.8%. The GfK Consumer Climate Indicator for Germany increased to 0.3 for October versus a revised reading of -1.1 in September, while French consumer confidence indicator rose by 3 points to a reading of 102.0 in September.
Asian markets traded mixed today. Japan’s Nikkei 225 fell 0.19%, Hong Kong’s Hang Seng Index rose 1.2%, while China’s Shanghai Composite Index rose 0.54%. Australia’s S&P/ASX 200 fell 1.5% and India’s BSE Sensex fell 0.9%. Profits earned by Chinese industrial firms jumped 49.5% year-over-year to CNY 5.60 trillion in January-August 2021, while retail sales in Australia fell 1.7% month-over-month in August. The trade deficit in Hong Kong increased to HKD 26.3 billion in August from HKD 14.6 billion in the year-ago period.
Broker Recommendation
Citigroup upgraded Puma Biotechnology, Inc. (NASDAQ:PBYI) from Neutral to Buy.
Puma Biotechnology shares rose 4.4% to close at $7.12 on Monday.
Check out other major ratings here
Breaking News
- Merck & Co (NYSE:MRK) is in advanced talks to buy Acceleron Pharma Inc (NASDAQ:XLRN), the Wall Street Journal reported.
- Pfizer Inc (NYSE:PFE) said it has begun late-stage testing for an oral drug that can be taken by persons who are exposed to the virus that causes COVID-19.
- Ford Motor Co (NYSE:F) along with its South Korean battery partner SK Innovation on Monday revealed plans to spend $11.4 billion to construct three battery plants and an assembly plant for F-series electric trucks in Tennessee and Kentucky, the largest investment in the Dearborn, Michigan-based automaker’s history..
- Endeavor Group Holdings, Inc. (NYSE:EDR) announced it will acquire sports betting company OpenBet from Scientific Games for $1.2 billion in cash and stock.
Check out other breaking news 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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