Friday, June 29, 2012
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.
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This is your Benzinga news summary and trader's outlook covering headlines from overnight and today's pre-market session.
Benzinga's Top News
Domestic Pre-Market Trading
- U.S. Equity Markets trade up as Dow futures trade higher about 138 points.
- U.S. Dollar trades about 1.01% lower.
To see more pre-market news, click here.
Overseas Trading
- European markets are higher in afternoon trading. Britain's FTSE 100 added 1.37%, Germany's DAX advanced 2.62% and France's CAC 40 added 2.77% on the session.
- Asian stocks ended the session higher as well. China's Shanghai gained 1.36%, Japan's Nikkei 225 advanced 1.50%, and Hong Kong's Hang Seng added 2.19%.
- Euro Sources Working on ESM/EFSF for Direct Bank Aid to Stabilize Markets
To see more overseas news, click here.
Upgrades/Downgrades
- JP Morgan Upgrades Saks(NYSE: SKS) from Neutral to Overweight, Raises PT from $11 to $12
To see more of today's upgrades, click here.
- Macquarie Downgrades Blackrock (NYSE: BLK) from Outperform to Neutral
To see more of today's downgrades, click here.
On the Economic Calendar
- 08:30 a.m. ET - Personal Spending (MoM)
- 08:30 - Personal Income (MoM)
- 09:45 - Chicago PMI
- 09:55 - Michigan Consumer Sentiment
To see more economic news, click here
Earnings
- Finish Line (NASDAQ: FINL) Reported Q1 EPS $0.24 vs $0.23 Est; Revenues $319M vs $320.68M Est
- Yesterday, Nike (NYSE: NKE) Reported Q4 EPS $1.17 vs $1.37 Est; Revenues $6.47B vs $6.51B Est
- Yesterday, Research In Motion (NASDAQ: RIMM) Reported Q1 EPS $-0.37 vs $-0.01 Est; Revenues $2,8B vs $3.11B Est
To see more earnings announcements, click here.
Corporate News
- Constellation (NYSE: STZ) To Acquire Remaining Interest In Crown for $1.85B
- InterOil (NYSE: IOC) Extends LNG Project Agreements With Mitsui
- Clean Energy (NASDAQ: CLNE) Adds Major Trucking Fleets to Natural Gas Fueling
To see more corporate news, click here.
Commodities
- Precious metals are trading higher, with gold posting early gains of about 1.98%
- Energy futures are trading higher, with crude oil posting early gains of about 3.69%
- Natural Gas futures are trading 2.57% higher and copper is trading lower by about 2.87%
To see more commodities news, click here.
Benzinga's Morning Radar
Technical Levels for Futures and Forex| Name | Resistance-2 | Resistance-1 | Mid Pivot | Support-1 | Support-2 |
| E-Mini S&P 500 | 1336 | 1323 | 1315 | 1303 | 1294 |
| Gold | 1591 | 1573 | 1560 | 1542 | 1529 |
| Crude | 82.42 | 80.55 | 78.86 | 76.89 | 75.30 |
| Natural Gas | 2.94 | 2.85 | 2.75 | 2.66 | 2.56 |
| EUR/USD | 1.2569 | 1.2507 | 1.2456 | 1.2394 | 1.2344 |
| US Dollar Index | 83.43 | 83.16 | 82.79 | 82.51 | 82.14 |
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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.