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 this morning, with the Dow Jones gaining more than 500 points on Tuesday.
Following the market opening Tuesday, the Dow traded up 1.70% to 30,395.65 while the NASDAQ rose 2.88% to 11,109.85. The S&P also rose, gaining, 2.38% to 3,762.25.
Also check this: 3 Stocks Under $1 Insiders Are Buying
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Leading and Lagging Sectors
Consumer discretionary shares jumped by 3.1% on Tuesday. Meanwhile, top gainers in the sector included Mullen Automotive, Inc. (NASDAQ:MULN), up 12% and Chewy, Inc. (NYSE:CHWY) up 13%.
In trading on Tuesday, utilities shares rose by just 0.7%.
Top Headline
Lennar Corporation (NYSE:LEN) reported better-than-expected results for its second quarter on Tuesday.
Lennar posted adjusted earnings of $4.69 per share, beating analysts’ estimates of $3.98 per share. The company’s quarterly sales came in at $8.36 billion, versus expectations of $8.11 billion.
The company said it sees Q3 deliveries of 17,000 to 18,500.
Equities Trading UP
Convey Health Solutions Holdings, Inc. (NYSE:CNVY) shares shot up 139% to $10.31 as the company agreed to be taken private by TPG Capital,.
Shares of Valneva SE (NASDAQ:VALN) got a boost, shooting 82% to $24.95. Pfizer will invest €90.5 million ($95 million) for an 8.1% stake in Valneva, as the companies updated the terms of agreement for Lyme disease vaccine candidate VLA15.
BlackSky Technology Inc. (NYSE:BKSY) shares were also up, gaining 26% to $2.56. BlackSky won a 5-year joint Artificial Intelligence Center contract for AI data readiness.
Equities Trading DOWN
ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) shares tumbled 34% to $12.79. A panel of the FDA's outside experts voted 9-3 that Acadia Pharmaceuticals’ pimavanserin doesn't appear to be effective at treating patients with Alzheimer's-related psychosis.
Shares of Neonode Inc. (NASDAQ:NEON) were down 20% to $5.09.
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The ODP Corporation (NASDAQ:ODP) was down, falling 15% to $29.70. ODP completed realignment of operating business entities to better serve customers.
Also check out: Kraft Heinz And 2 Other Stocks Insiders Are Selling
Commodities
In commodity news, oil traded up 2.1% to $111.85, while gold traded down 0.1% to $1,839.20.
Silver traded up 0.5% to $21.69 on Tuesday while copper rose 0.7% to $4.0415.
Euro zone
European shares were higher today. The eurozone’s STOXX 600 gained 1.1%, London’s FTSE 100 rose 0.7% while Spain’s IBEX 35 Index rose 0.2%. The German DAX gained 1.1%, French CAC 40 climbed 1.7% and Italy’s FTSE MIB Index climbed 1.1%.
The Euro Area recorded a current account gap of EUR 5.4 billion in April versus a year-ago surplus of EUR 32.3 billion.
Economics
The Chicago Fed National Activity Index fell to an eight-month low of +0.01 in May from +0.40 in the prior month.
Existing home sales dropped by 3.4% to an annual rate of 5.41 million in May.
Federal Reserve Bank of Richmond President Thomas Barkin is set to speak at 11:00 a.m. ET.
The Treasury is set to auction 3-and 6-month bills at 11:30 a.m. ET.
Federal Reserve Bank of Richmond President Thomas Barkin will speak at 3:30 p.m. ET.
Check out this: US Stock Futures Higher; Dow Futures Surge 500 Points
Check out our premarket coverage here
COVID-19 Update
The U.S. has the highest number of coronavirus cases and deaths in the world, reporting a total of 88,054,080 cases with around 1,038,380 deaths. India confirmed a total of at least 43,320,840 cases and 524,890 deaths, while Brazil reported over 31,756,110 COVID-19 cases with 669,210 deaths. In total, there were at least 544,958,040 cases of COVID-19 worldwide with more than 6,342,090 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.