Thursday, February 16, 2012
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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This is your Benzinga news summary and trader's outlook covering headlines from overnight and today's pre-market session.
Benzinga's Top News
- Rumors that Moody's is looking to cut its credit ratings on UBS (NYSE: UBS), Credit Suisse (NYSE: CS), and Morgan Stanley (NYSE: MS) was met with a drop in European markets.
- Elektra to Acquire Advance America (NYSE: AEA) For $10.50/Share
- JM Smucker (NYSE: SJM) Reports Q3 EPS $1.22 vs $1.41 Est; Revenues $1.47B vs $1.54B Est
- TRW Automotive Holdings (NYSE: TRW) Reports Q4 EPS $1.84 vs $1.55 Est; Revenues $3.99B vs $3.96B Est
- Barrick Gold (NYSE: ABX) Reports Q4 EPS $1.17 vs $1.28 Est; Revenues $3.79B vs $3.73B Est
Domestic Pre-Market Trading
- U.S. Equity Markets trade lower as Dow futures trade down about 37 points.
- U.S. Dollar trades about 0.49% higher.
To see more pre-market news, click here.
Overseas Trading
- European markets are lower in afternoon trading. Britain's FTSE 100 lost 0.75%, Germany's DAX slid 1.08% and France's CAC 40 fell 0.66% on the session.
- Asian stocks ended the session lower as well. China's Shanghai slid 0.39%, Japan's Nikkei 225 fell 0.24%, and Hong Kong's Hang Seng lost 0.41%.
To see more overseas news, click here.
Upgrades/Downgrades
- Jefferies Upgrades MEMC Electronic Materials (NYSE: WFR) from Underperform to Hold, Raises PT from $3.5 to $4.5
- Citigroup Upgrades Grand Canyon Education (NASDAQ: LOPE) from Neutral to Buy, Raises PT from $18 to $22
To see more of today's upgrades, click here.
- Morgan Stanley Downgrades Amazon (NASDAQ: AMZN) from Overweight to Equal-weight, Removes PT
- Bank of America Downgrades Ancestry.com (NASDAQ: ACOM) from Buy to Neutral, Lowers PO from $37 to $31
To see more of today's downgrades, click here.
On the Economic Calendar
- Producer Price Index, Housing Starts, Building Permits, Initial & Continuing Jobless Claims are due at 8:30 a.m. ET
- Phili Fed Index, Mortgage Delinquencies are set to report at 10:00 a.m.
To see more economic news, click here
Earnings
- JM Smucker (NYSE: SJM) Reports Q3 EPS $1.22 vs $1.41 Est; Revenues $1.47B vs $1.54B Est
- TRW Automotive Holdings (NYSE: TRW) Reports Q4 EPS $1.84 vs $1.55 Est; Revenues $3.99B vs $3.96B Est
- Barrick Gold (NYSE: ABX) Reports Q4 EPS $1.17 vs $1.28 Est; Revenues $3.79B vs $3.73B Est
To see more earnings announcements, click here.
Corporate News
- Rumors that Moody's is looking to cut its credit ratings on UBS (NYSE: UBS), Credit Suisse (NYSE: CS), and Morgan Stanley (NYSE: MS) was met with a drop in European markets.
- Elektra to Acquire Advance America (NYSE: AEA) For $10.50/Share
- Jingwei International (NASDAQ: JNGW) Announces Intent to Go Private for $2.20 per Share
To see more corporate news, click here.
Commodities
- Precious metals are trading lower, with gold posting early losses of about 0.49%
- Energy futures are trading lower, with crude oil posting early losses of about 0.51%
- Natural Gas futures are higher by about 0.25% and copper is trading lower by about 1.47%
To see more commodities news, click here.
Benzinga's Morning Radar
Technical Levels for Futures and Forex| Name | Resistance-2 | Resistance-1 | Mid Pivot | Support-1 | Support-2 |
| E-Mini S&P 500 | 1366 | 1354 | 1345 | 1334 | 1328 |
| Gold | 1747 | 1738 | 1730 | 1721 | 1713 |
| Crude | 103.21 | 102.54 | 101.88 | 101.21 | 100.55 |
| Natural Gas | 2.63 | 2.53 | 2.46 | 2.37 | 2.30 |
| EUR/USD | 1.3245 | 1.3155 | 1.3099 | 1.3009 | 1.2952 |
| US Dollar Index | 80.27 | 80.02 | 79.61 | 79.36 | 78.95 |
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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.