UPDATE: Citigroup Maintains Buy, Reduces PT to $8.50 on KeycCorp on Lower NIMs - KeyCorp (NYSE:KEY)

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.

Citigroup reiterates its Buy rating on KeyCorp (NYSE: KEY) but reduces its price target from $10 to $8.50. Citigroup says, "We reduce our 2012, 2013 and 2014 NIM estimates by 1 bps, 5 bps and 11 bps respectively to 3.17% in 2012, 3.13% in 2013 and 3.08% in 2014. This compares to 3.16% at the end of 1Q12. … In the hypothetical case that rates remain flat through 2014, we estimate that 2012, 2013 and 2014 estimates would be roughly unchanged vs our new estimates." KEY closed at $7.15 on Thursday.

27% profit every 20 days?

ENTER TO WIN $500 IN STOCK OR CRYPTO

Enter your email and you'll also get Benzinga's ultimate morning update AND a free $30 gift card and more!