27% profits every 20 days?
This is what Nic Chahine averages with his options 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.
- BP plc (NYSE:BP) posted more than double profit during Q3 of $8.15 billion from $3.32 billion, reflecting higher realizations, higher production, and an exceptional gas marketing & trading result.
- The company expanded its share buybacks by $2.5 billion.
- It posted a revenue of $55.01 billion, up 53% Y/Y but missing the consensus of $64.76 billion.
- The company reported production for the quarter was 981mboe/d, up 10.4% Y/Y. Underlying production was 4.7% higher, mainly due to major project start-ups in 2021, partly offset by base decline.
- The average realization was $60.80/boe, up from $34.91 a year ago.
- BP expects global gas prices to remain volatile in the fourth quarter due to a lack of supply into Europe after Russia slashed its pipeline deliveries to the continent.
- BP said that refining margins are also expected to remain high due to sanctions on Russian crude oil and refined products.
- BP expects fourth-quarter 2022 upstream production on a reported basis to be slightly lower compared with the third-quarter 2022, primarily in gas regions.
- BP increased its dividend by 10% to 6.006 cents per share in the last quarter, more than its previous guidance of a 4% annual increase through 2025.
- Price Action: BP shares are down 0.30% at $33.18 during the premarket session on the last check Tuesday.
27% profits every 20 days?
This is what Nic Chahine averages with his options 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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