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.
- Tencent Holding Ltd (OTC:TCEHY) dumped its virtual reality hardware ambitions as the macro headwinds prompted it to cut costs and headcount at its metaverse unit.
- Tencent eyed a ring-like hand-held game controller, but difficulties in achieving quick profitability, significant investment, regulatory scrutiny, and a lengthy review process prompted a shift away from that strategy, Reuters reports.
- The Chinese gaming giant eyed virtual reality software and hardware at an "extended reality" XR unit it launched in June last year, for which it hired nearly 300 people.
- According to an internal forecast, the XR project was not likely to become profitable until 2027. Tencent confirmed not disbanding the XR unit.
- Tencent also aspired to snap gaming phone maker Black Shark to beef up its hardware push and add 1,000 people to the unit.
- Tencent eyed rivaling Western peers like Meta Platforms Inc (NASDAQ:META) and Microsoft Corp (NASDAQ:MSFT), which are building their metaverses and have their virtual reality hardware projects.
- China's sweeping regulatory crackdown and COVID-19 headwinds battered Tencent's revenue.
- Price Action: TCEHY shares closed higher by 0.02% at $48.45 on Thursday.
- Photo by Chris Yunker via Flickr
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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