June 13, 2012 4:07 PM | 1 min read |
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.
TransAtlantic Petroleum Ltd. (NYSE: TAT) announces that on June 13, 2012, the Company closed the sale of its oilfield services business to a joint venture owned by Dalea Partners, LP and funds advised by Abraaj Investment Management Limited. Gross proceeds from the sale totaled approximately $167.2 million, comprised of approximately $155.7 million in cash and an $11.5 million promissory note from Dalea. The cash portion of the purchase price incorporated working capital adjustments as of April 1, 2012, the effective date of the transaction.TransAtlantic used a portion of the net proceeds from the sale to pay off its $73.0 million credit agreement with Dalea, its $11.0 million credit facility with Dalea, its $0.9 million promissory note with Viking Drilling, LLC, and its $1.8 million credit agreement with a Turkish bank. TransAtlantic plans to use between approximately $50.0 million and $60.0 million of the remaining net proceeds to reduce borrowings under the Company's senior secured credit agreement with Standard Bank Plc and BNP Paribas (Suisse) SA. The Company currently has outstanding borrowings of $78.0 million under the senior secured credit agreement.
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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