September 20, 2012 8:33 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.
Denbury Resources Inc.(NYSE: DNR) ("Denbury" or the "Company") announced that it has entered into anagreement to sell its Bakken assets in North Dakota and Montana to Exxon MobilCorporation and its wholly owned subsidiary XTO Energy Inc. (collectively,"ExxonMobil"). Denbury will receive $1.6 billion in cash, subject to closingadjustments, and ExxonMobil's operating interests in Webster Field in Texasand Hartzog Draw Field in Wyoming, both of which are ideal candidates forcarbon dioxide ("CO[2]") flooding and close to Denbury's existing or plannedCO[2] pipelines. In addition, Denbury has agreed in principle to eitherpurchase an interest in the CO[2] reserves in ExxonMobil's LaBarge Field insouthwestern Wyoming or purchase incremental CO[2] from that field, on termsand conditions to be mutually agreed upon by the parties. The purchase of aninterest in CO[2] reserves would reduce the amount of cash received byDenbury.
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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