September 10, 2012 7:34 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.
JP Morgan raised its rating on Venoco (NYSE: VQ) from Underweight to Overweight and increased its price target from $7.50 to $12.50. JP Morgan noted, "Before market open Friday, VQ announced an updated financing plan for the CEO's planned take-private transaction. DPC (Denver Parent Corporation, an affiliate of the CEO) has until this Thursday (noon ET) to obtain committed financing. The termination date of the deal remains this Friday. DCP seems close to getting the deal done. It upsized the second lien term loan based on strong interest. Also, Friday's update suggests DCP is finalizing VPP terms and pricing. We are upgrading the company to Overweight from Underweight and increasing our PT to $12.50/share, which is equal to the targeted take-private price."Venoco closed at $11.73 on Friday.
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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