Molycorp up 8% on Reports of Stricter Rare Earths Regulation in China

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.

Molycorp (NYSE: MCP) is trading higher on the session following a a Global Times article suggesting that China has pledged to regulate its rare earths industry more strictly. China is the largest rare earths exporter in the world.Molycorp is a U.S.-based rare earth oxide producer and it owns developed rare earth projects outside of China. Hence, the news about stricter regulations in China tend boost Molycorp's stock price. The shares of Molycorp are currently trading at $22.26, a gain of $1.60 or 7.74%.

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!