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 settled sharply higher for a second day, with the Dow Jones jumping more than 300 points on Thursday.
Data released Thursday showed a quarterly contraction in the US economy, which shrank an annualized 0.9% on quarter during the second quarter. The news increased speculation that the Fed might not continue with aggressive rate hikes.
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The Federal Reserve, on Wednesday, raised interest rates by 75 bps on Wednesday in order to combat surging inflation.
The market sentiment was boosted by better-than-expected quarterly results from Apple Inc. (NASDAQ:AAPL) and Amazon.com, Inc. (NASDAQ:AMZN). Ford Motor Co (NYSE:F) also reported upbeat quarterly net income.
Majority of the sectors on the S&P 500 settled higher, with real estate stocks recording the biggest surge on Thursday. Communication services, however, was the worst performing sector in the previous session, dropping around 0.7%.
The Dow Jones jumped 332 points to 32,529.63 on Thursday, while the Nasdaq Composite jumped 1.08% to 12,162.59 in the previous session.
The Chicago Board Options Exchange's CBOE Volatility Index (VIX) dropped 1.5% to 22.00 points on Friday.
Investors are now awaiting the release of several economic reports, including Chicago PMI and the University of Michigan's consumer sentiment index today.
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.