27% profits every 20 days?
This is what Nic Chahine averages with his options 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.
Following the Taylor Swift fiasco that resulted in fans paying exorbitant fees (or not getting a ticket at all), President Joe Biden criticized Ticketmaster and other companies during his State of the Union address on Tuesday and demanded the excessive service fees that are added to concert tickets be reduced.
What Happened: During the address, Biden urged Congress to require online ticket sellers to disclose the full costs upfront, pointing to the "Junk Fee Prevention Act" — proposed legislation he wants to be passed that would crack down on excessive or undisclosed fees.
The Biden administration is recommending a ban on exorbitant entertainment fees and a requirement for ticket vendors to report any holdbacks that affect the ticket supply.
Ticketmaster, owned by Live Nation Entertainment Inc (NYSE:LYV), has exclusive contracts with upward of 80% of major U.S. venues, according to a report disclosing the economics behind the ticket vendor.
Going after Ticketmaster for its inflated costs could be seen as Biden making a reference to the plight of Swift fans. The high prices they paid for tickets may have been the result of a lack of market competition that allowed companies like Ticketmaster to impose high fees.
Read also: Why You Gotta Be So Mean: Ticketmaster Cancels Public Taylor Swift Ticket Sale
Biden is also asking Congress to fast-track a proposal that would ban airlines from charging families with children to sit together. There are currently no airlines that guarantee free family seating.
The president is seeking to ban charges related to terminating mobile phone, wireless or cable TV services as well.
Additionally, Biden wants to outlaw resort fees, a practice of hotels including surprise fees in room rates for being resorts, so vacationers can budget more accurately.
Read next: Biden Spotlights Job Creation, Bi-Partisanship In State Of Union To Divided Congress
Photo: Courtesy of Gage Skidmore and Eva Rinaldi on flickr
27% profits every 20 days?
This is what Nic Chahine averages with his options 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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