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.
- Raymond James analyst Olivia Tong reiterated a Strong Buy rating on the shares of Ulta Beauty Inc (NASDAQ:ULTA) and raised the price target to $505 from $485, with an upside of 22%.
- The analyst raised the price target after the company reported better-than-expected Q2 earnings.
- Tong said, like many in consumer, Ulta’s growth slowed in late June/early July but then quickly rebounded, which has continued into Q3.
- The analyst noted that with all key sub-categories growth in double digits in Q2, the company is seeing no signs of trade-down across its customer base, no matter the income cohort.
- She believes 2H will see a more competitive and promotional environment amongst retailers in general, especially for holidays.
- Tong added there is an upside opportunity based on the strength of the Beauty category and Ulta’s high-income skewing customer base and market share gains.
- Price Action: ULTA shares are trading lower by 1.38% at $413.48 on the last check Friday.
- Photo Via Wikimedia Commons
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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