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.
U.S. stocks traded higher midway through trading, with the Nasdaq Composite gaining more than 1% on Monday.
The Dow traded up 0.73% to 33,139.03 while the NASDAQ rose 1.16% to 12,151.86. The S&P also rose, gaining, 1.05% to 4,151.62.
Also check this: Home Depot And 2 Other Stocks Insiders Are Buying
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!
Leading and Lagging Sectors
Consumer discretionary shares jumped by 2.2% on Monday. Meanwhile, top gainers in the sector included Gaotu Techedu Inc. (NYSE:GOTU), up 19% and Newegg Commerce, Inc. (NASDAQ:NEGG) up 18%.
In trading on Monday, energy shares fell 0.2%.
Top Headline
Science Applications International Corporation (NYSE:SAIC) reported upbeat results for its first quarter.
Science Applications posted quarterly earnings of $1.88 per share, beating analysts’ estimates of $1.77 per share. The company’s quarterly sales came in at $2.00 billion, versus expectations of $1.93 billion.
Science Applications raised its FY23 EPS guidance from $6.80-$7.10 to $6.90-$7.20 and narrowed its FY23 sales guidance from $7.35 billion-$7.55 billion to $7.43 billion-$7.55 billion.
Equities Trading UP
DiDi Global Inc. (NYSE:DIDI) shares shot up 47% to $2.7150 after the Chinese government said the company can resume adding new users.
Shares of Futu Holdings Limited (NASDAQ:FUTU) got a boost, shooting 22% to $44.97 after the company reported Q1 earnings results.
Yumanity Therapeutics, Inc. (NASDAQ:YMTX) shares were also up, gaining 34% to $1.9012 after the company announced definitive agreements for two strategic transactions. Yumanity Therapeutics agreed to sell its lead clinical-stage product candidate, YTX-7739, and discovery-stage neuroscience candidates to Janssen Pharmaceutica NV, a unit of Johnson & Johnson for $26 million. Under the second agreement, Kineta will become a wholly-owned subsidiary of Yumanity in an all-stock transaction, resulting in a combined publicly-traded company renamed Kineta Inc.
Equities Trading DOWN
Want Private Access to Benzinga Analyst?
Check out the latest strategies our team of experts are using every week so that you can always adapt to the market like the pros!—Get FULL Access to This Week's Webinar Here.
Praxis Precision Medicines, Inc. (NASDAQ:PRAX) shares tumbled 65% to $2.9825 after the company announced the PRAX-114 Phase 2/3 monotherapy Aria study did not achieve statistical significance on the primary endpoint.
Shares of Gevo, Inc. (NASDAQ:GEVO) were down 31% to $3.15 after the company announced a $150 million registered direct offering priced at-the-market under Nasdaq rules.
Pear Therapeutics, Inc. (NASDAQ:PEAR) was down, falling 19% to $3.50. Pear Therapeutics announced new analysis showing reduction in healthcare resource utilization and associated costs in patients using reSET at 6 months.
Also check out: Executives Sell Around $325M Of 3 Stocks
Commodities
In commodity news, oil traded down 0.1% to $118.81, while gold traded down 0.1% to $1,849.80.
Silver traded up 1.4% to $22.215 on Monday while copper fell 0.8% to $4.4345.
Euro zone
European shares were higher today. The eurozone’s STOXX 600 gained 1.22%, London’s FTSE 100 gained 1.38% while Spain’s IBEX 35 Index rose 1.39%. The German DAX gained 1.61%, French CAC 40 rose 1.5% and Italy’s FTSE MIB Index jumped 1.97%.
Economics
There were no major US economic releases Monday
Check out this: NVIDIA And 4 Other Stocks Insiders Are Selling
COVID-19 Update
The U.S. has the highest number of coronavirus cases and deaths in the world, reporting a total of 86,522,560 cases with around 1,033,590 deaths. India confirmed a total of at least 43,181,330 cases and 524,700 deaths, while Brazil reported over 31,153,760 COVID-19 cases with 667,050 deaths. In total, there were at least 535,513,050 cases of COVID-19 worldwide with more than 6,320,680 deaths.
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.