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.
Carvana Co (NYSE:CVNA) shares traded significantly higher on above-average volume Thursday.
Carvana's average session volume over a 100-day period was 6.81 million, according to data from Benzinga Pro. Thursday's trading volume totaled 41.6 million. Also of note, more than 46% of the total float is being sold short, per Benzinga Pro data.
According to Wall Street Journal report from earlier in the week, Carvana plans to lay off 12% of its workforce.
Carvana CEO Ernie Garcia reportedly told employees in a company email that Carvana had "overshot" its growth strategy. As a result the company plans to cut about 2,500 workers focused on operations.
On Tuesday, Carvana announced the $2.2-billion acquisition of ADESA’s U.S. physical auction business from KAR Auction Services Inc (NYSE:KAR), consisting of 56 ADESA locations.
Carvana operates an e-commerce platform for buying and selling used cars.
From Last Week: 10 Of The Worst Cars Ever Made
CVNA Price Action: Carvana shares have traded between $28.35 and $376.83 over a 52-week period. The stock closed Thursday up 24.67% at $37.40.
Photo: Tony Webster from Flickr.
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.
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!