July 12, 2012 8:45 AM | 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.
Bank of America maintains a Buy rating on Orexigen Therapeutics (NASDAQ: OREX) and raises its price target from $7 to $9.Bank of America comments, “OREX announced that its cardiovascular outcomes trial, the Light Study, is enrolling faster than expected, with potential full enrollment by early-2013 and interim results (87 MACE events) potentially by mid-year 2013 versus a previously anticipated late-2013. We have increased confidence in a 2014 launch for Contrave and raised our probability of approval estimate by 10 percentage points to 75%, which could be conservative as the interim results only need to rule out a doubling of MACE risk in patients receiving Contrave, a low hurdle in our view. We raised our PO from $7 to $9. Note we include no value for OREX's follow-on obesity drug Empatic, which has been idled post ph. 2, pending the outcome of VVUS' Qnexa (Empatic has similar efficacy and safety issues as Qnexa).” Orexigen Therapeutics closed at $6.24 on Wednesday.
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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