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.
The Nasdaq settled higher by 2% on Monday. Investors, meanwhile, focused on some notable insider trades.
When insiders sell shares, it indicates their concern in the company’s prospects or that they view the stock as being overpriced. Either way, this signals an opportunity to go short on the stock. Insider sales should not be taken as the only indicator for making an investment or trading decision. At best, it can lend conviction to a selling decision.
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Below is a look at a few recent notable insider sales. For more, check out Benzinga's insider transactions platform.
DocuSign
- The Trade: DocuSign, Inc. (NASDAQ:DOCU) Director Daniel Springer sold a total of 151,612 shares at an average price of $55.08. The insider received around $8.1 million from selling those shares.
- What’s Happening: Wells Fargo recently maintained DocuSign with an Equal-Weight and raised the price target from $48 to $55.
- What DocuSign Does: DocuSign offers the Agreement Cloud, a broad cloud-based software suite that enables users to automate the agreement process and provide legally binding e-signatures from nearly any device.
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Adobe
- The Trade: Adobe Inc. (NASDAQ:ADBE) 10% owner Chairman and CEO Shantanu Narayen sold a total of 15,000 shares at an average price of $346.61. The insider received around $5.2 million as a result of the transaction.
- What’s Happening: Adobe Chief Product Officer Scott Belsky addressed user criticism by saying the company has never trained its generative artificial intelligence services on customer projects.
- What Adobe Does: Adobe provides content creation, document management, and digital marketing and advertising software and services to creative professionals and marketers for creating, managing, delivering, measuring, optimizing and engaging with compelling content multiple operating systems, devices and media.
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Accenture
- The Trade: Accenture plc (NYSE:ACN) Chief Leadership & HR Officer Ellyn Shook sold a total of 5,250 shares at an average price of $276.08. The insider received around $1.45 million from selling those shares.
- What’s Happening: Accenture agreed to acquire SKS Group.
- What Accenture Does: Accenture is a leading global IT-services firm that provides consulting, strategy, and technology and operational services.
Myriad Genetics
- The Trade: Myriad Genetics, Inc. (NASDAQ:MYGN) CFO Richard Bryan Riggsbee sold a total of 9,400 shares at an average price of $20.04. The insider received around $188.39 thousand from selling those shares.
- What’s Happening: Raymond James upgraded the stock from Market Perform to Outperform and announced a $25 price target.
- What Myriad Genetics Does: Myriad Genetics is a molecular diagnostics company that provides testing services designed to assess an individual's risk of developing a disease.
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.