September 24, 2012 8:05 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.
Citigroup reduced its rating on AK Steel (NYSE: AKS) from Neutral to Sell and lowered its price target from $5.50 to $3.50. Citigroup said, "Our Sell recommendation is based partly on our steel price outlook but more importantly a further deterioration in our modeled negative free cash flow outlook. Currently we project FCF of -$405 mln in '12, -$40 mln in '13 and -$159 mln in '14. AKS' credit facility requires a fixed charge coverage ratio of 1:1 if credit facility availability falls below $138 mln. The company has not met its fixed charge coverage ratio requirement since 2007 but had ample credit facility availability of $672 mln as of the end of 2Q12."AK Steel Holding closed at $5.25 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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