Benzinga Mid-Afternoon Market Update

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.

Earnings season has officially started today, with Alcoa (NYSE: AA) kicking off the period when it reports earnings this afternoon.Equities Trading Up:

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Spectrum Brands (NYSE: SPB) traded up 10.79 percent Tuesday afternoon to $45.60 following the announcement that it would acquire Stanley's Black & Decker Home Improvement Group.Gulfport Energy (NASDAQ: GPOR) also continued to rise, trading up 7.07 percent to $32.00 after the company confirmed its 2012 guidance.Shares of Walter Energy (NYSE: WLT) got a 7.93 percent boost midway through Tuesday to $36.47 following a rise in coal prices.Equities Trading DownEdwards Lifesciences (NYSE: EW) continued to trade down, falling 20.14 percent midway through Tuesday to $85.78 after the company lowered its sales guidance.Owens Corning (NYSE: OC) was also down, falling 8.95 percent to $30.91 after cutting its fiscal year forecast.Shares of Netflix (NASDAQ: NFLX) took a hit Tuesday as well, trading down 10.38 percent to $65.89 after a Bank of America downgrade.CommoditiesIn commodity news, oil traded up 3.19 percent to $92.18, while gold traded down 0.49 percent to $1,767.00.Silver traded down 0.12 percent mid-way through Tuesday at $33.90.

EurozoneGerman Chancellor Angela Merkel is paying Greece a visit today, and is receiving a less than welcoming reception by the populace. Watch for comments from Merkel and other leaders at the summit which may lead to market swings.EconomicsIn economic news, the NFIB Small Business Optimism figure was reported today, coming in at 92.8, slightly below the 93.5 estimate and the prior figure of 92.9.