May 16, 2012 4:44 PM | 1 min read |
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.
Shares of North Carolina-based Martin Marietta Materials (NYSE: MLM), a producer of granite, limestone, sand, gravel, and other products used for construction and infrastructure projects, plunged 8.2% today on volume that was roughly eight times the daily average after Greenlight Capital's David Einhorn made negative comments about the company at the Ira Sohn Conference.Martin Marietta was recently rebuffed in its hostile takeover bid for rival Vulcan Materials (NYSE: VMC), prompting comments from Einhorn that compared the company to Yahoo (Nasdaq: YHOO). Einhorn's bearish view of Martin Marietta forced a circuit breaker halt in trading of the stock this afternoon. The hedge fund manager, whose bearish bets include Green Mountain Coffee Roasters (Nasdaq: GMCR), Dick's Sporting Goods (NYSE: DKS), and Herbalife (NYSE: HLF), compared Martin Marietta CEO Howard Nye to former Yahoo CEO Scott Thompson, calling Nye a megalomaniac along the way.With Tuesday's slide, shares of Martin Marietta have lost about 25% in the past three months.
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.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.