Group 1 Automotive Assessing Hail Damage To Oklahoma City Dealerships; Sees After-Tax Charges of $0.07-0.10 in Q2

by Benzinga Staff
May 31, 2012 4:52 PM | 1 min read | Make a Comment

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.

Group 1 Automotive, Inc.(NYSE: GPI), a Fortune 500 automotive retailer, today announced it is assessing damage at seven of its eight Oklahoma City, Okla., import and domestic dealerships in the aftermath of a May 29 hail storm.Preliminary assessments indicate there is damage to some of the facilities and most of the new and used vehicle inventory located at the seven stores. The company is insured with large deductibles and currently estimates it will incur after-tax charges related to the deductibles in the range of $1.8 million to $2.3 million, or approximately $0.07 to $0.10 per common share, in the second quarter.

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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