August 8, 2012 11:02 AM | 1 min read |
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.
In a report published Wednesday, Canaccord Genuity reiterated its Buy rating on Cree (NASDAQ: CREE), and slightly raised its price target from $33.00 to $34.00.Canaccord noted, “Cree's balance sheet is the cleanest in almost two years. DSO, inventory days, and payables all improved during the quarter. Also positively, the company has begun to break out gross profit by business segment. On the negative side, the dilutive nature of lighting products, at a 31% GM, has become painfully obvious...Macro headwinds worked against the components business, but we remain confident that new products (the SC3 platform) are beginning to gain momentum. While competition in lighting products is likely to remain, we see increased utilization from the SC3 platform plus productivity improvements leading to higher gross margins into the larger lighting adoption into 2013.”Cree closed on Tuesday at $26.34.
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.
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