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.
Retail investors can gain exposure to the oil markets by using ETFs. One of them is the SPDR S&P Oil & Gas Exploration & Production ETF (NYSE:XOP).
The ETF follows the price of oil closely and that’s a good thing because oil may be about to rally.
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The ETF has dropped to $75.50. This important level was resistance in July. Levels that were resistance can convert into support and that could happen here.
Back in July, XOP ran into resistance around $100 and this level appears to have turned into support. A new uptrend may be about to form in this ETF. If oil rebounds, XOP will follow.
To learn more about reading charts check out the new Benzinga Trading School.
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.