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.
The controversial Johnson & Johnson (NYSE:JNJ) bankruptcy strategy will face a fresh trial to urge a judge to allow it to use the bankruptcy process to resolve claims that its talc-based products caused cancer.
- More than 38,000 plaintiffs have alleged the Company's talc products caused ovarian cancer and mesothelioma, deadly cancer linked to asbestos exposure.
- J&J maintains that its consumer talc products are safe and confirmed through several tests to be asbestos-free.
- The Company in October placed the talc claims into a newly-created entity called LTL Management LLC, which filed for bankruptcy protection in North Carolina.
- Also See: US Judge Allows Johnson & Johnson To Split Talc Powder Liabilities Into New Company.
- JNJ adopted "Texas two-step," which allows companies to split in two, with one part of the Company keeping valuable assets while the other includes liabilities.
- U.S. Bankruptcy Judge Michael Kaplan has scheduled a five-day trial to consider a bid by committees representing the plaintiffs to dismiss the bankruptcy case.
- J&J has proposed giving $2 billion to LTL to put into a trust to compensate the 38,000 current plaintiffs and future claimants.
- Related: Supreme Court Denies Johnson & Johnson's Challenge to Baby Powder Cancer Judgement.
- Price Action: JNJ shares traded .11% lower at $167.52 premarket on the last check Monday.
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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