October 4, 2012 9:08 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.
ADP employment report 162,000; above expectations of 143,000 Non-manufacturing ISM rises to 55.1 from 53.7; much stronger than anticipated MOF forex head Nakao: JPY's strength does not reflect fundamentals, to act when needed ECB open to extending maturities on some Greek debt; will not take right downs: MNI Portugal raises taxes, says more austerity needed to hit budget targets Greek Fin Min: Big difference with Troika; hope to settle them by next Monday Nikeki: German finance minister open to Spanish bailout S&P 500 close up 0.4% at 1451 US 10-yr note closes unch at 1.62%A pretty quiet US session with upbeat US data having little lasting impact on most markets. USD/JPY was the main beneficiary of strong ADP and ISM data, pushing up to test the 61.8 retracement of the range in place since mid-September. Jawboning from the MOF's chief forex official helped set the pace.EUR/USD found repeated buying interest on dips to the 1.2880/90 region but rallies were anemic, only to 1.2925 in New York.Commodities currencies were undermined by a slide of over $4 in oil prices. AUD/USD dipped below 1..02 in afternoon and traders are mindful of stops below 1.0160. Barriers at 1.0150 area rumored, of course.
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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