October 18, 2012 8:02 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.
MGM Resorts International (NYSE: MGM) today announced that MGM China Holdings Limited, a 51%-owned subsidiary, has formally accepted a Land Concession Contract in the form of a lease granted by the Macau Government to develop a five-star luxury resort and casino in Cotai, Macau. The Company has paid the Macau Government the sum of approximately $56 million as the initial payment of the contract premium. The Macau Government will arrange for publication of the Land Concession Contract in the Official Gazette of Macau in due course.With a budget of approximately $2.5 billion, the world-class resort will include approximately 1,600 hotel rooms, 500 gaming tables, and 2,500 slots built on an approximately 17.8 acre site. The resort will feature over 85% gross floor area of non-gaming offerings, including exciting restaurant, retail and entertainment offerings.MGM China Chairman and Executive Director Pansy Ho said: "We are extremely appreciative of the Macau government for the grant of the land concession contract and the opportunity to build a spectacular resort. Our Cotai property will demonstrate our continued commitment to contribute to Macau as it develops into an international tourism and entertainment hub as well as a convention and meeting destination."
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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