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.
- JetBlue Airways Corp (NASDAQ:JBLU) is planning a hostile takeover attempt for Spirit Airlines Inc (NYSE:SAVE) after the latter spurned the former’s offer.
- JetBlue plans to launch a tender offer directly to Spirit shareholders. JetBlue commenced an all-cash, fully financed tender offer for $30 per share.
- JetBlue noted the offer represents a 60% premium to the value of the Frontier transaction as of May 13, 2022.
- In addition, JetBlue said it is fully prepared to negotiate in good faith a consensual transaction at $33, subject to receiving necessary diligence.
- JetBlue also urged Spirit shareholders to vote against the merger with Frontier Group Holdings Inc (NASDAQ:ULCC).
- Spirit agreed in February to be acquired by Frontier in a cash-and-stock transaction valued at $2.9 billion.
- “Ask yourself a simple question: why won’t the Spirit Board engage with us constructively? The interests of Bill Franke’s Indigo Partners and the long-standing relationships between the two companies is the obvious answer," said JetBlue CEO Robin Hayes in a letter to Spirit shareholders.
- Spirit’s board believes the JetBlue merger would not be approved by antitrust regulators because of JetBlue's alliance with American Airlines Group (NASDAQ:AAL).
- Price Action: JBLU shares are trading higher by 2.09% at $10.27, and SAVE higher by 11.3% at $18.90 in premarket on Monday.
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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