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.
- Albertsons Companies Inc (NYSE:ACI) had a lawsuit filed against it by Washington State Attorney General Bob Ferguson to stop the grocery chain from paying shareholder dividends.
- Albertsons had sought to pay $4 billion in dividends to its shareholders before the closing of its proposed merger with supermarket operator Kroger Co (NYSE: KR).
- Ferguson argued that the special dividend payment risked severely undercutting the grocery giant's ability to compete during the lengthy period.
- Government regulators, including Washington, will be scrutinizing the merger.
- According to Securities & Exchange Commission filings, this $4 billion dividend exceeds Albertsons' cash on hand.
- The grocery company plans to borrow the rest of the money required for paying its shareholders on November 7.
- Albertsons and Kroger account for the vast majority of grocery stores in Washington, with 216 Safeway and Albertsons stores in the state and 114 Kroger-owned Fred Meyer and QFC stores.
- The Attorney General will file a temporary restraining order on Tuesday or Wednesday, which, if granted, will block Albertsons from making the payment while Ferguson's lawsuit is ongoing.
- Related: Kroger/Albertsons $25B Merger Might Face Antitrust Challenge
- Price Action: ACI shares closed lower by 0.93% at $20.32 on Tuesday.
- Photo Via Company
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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