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.
- Saudi Arabia's Public Investment Fund now owns an 8.3% stake in Nintendo Co, Ltd (OTC:NTDOF) (OTC:NTDOY), becoming its largest outside shareholder.
- The ramp-up of stake, up from 6%, has placed PIF ahead of Japan's Government Pension Investment Fund and behind only Nintendo's holding, Bloomberg reports.
- Under Crown Prince Mohammed bin Salman, Saudi Arabia pushed to break into the games and esports industry.
- Also Read: Saudi Arabia's Public Investment Fund and Alibaba Backed VC Close To Raising $1B To Support Asian And Middle East Tech Startups
- Most notably, it set up Savvy Games Group under the PIF umbrella with a $38 billion budget led by industry veterans.
- Savvy this week revealed its first foray into China's games sector with a $260 million investment in a Tencent Holding Ltd (OTC: TCEHY)-backed competitive gaming organizer.
- "It's tough to bet against PIF due to its size in the market," UBS analyst Kenji Fukuyama said. "The fund may underpin Nintendo shares if it continues to increase its stake."
- Nintendo marked PIF's third investment in a Japanese game company that hit the public disclosure threshold of 5%, along with Nexon Co Ltd (OTC: NEXOY) and Street Fighter maker Capcom Co Ltd (OTC: CCOEY) in 2022.
- "The Nintendo purchase, as well as investments in game companies around the world, is part of Saudi Arabia's long-term project to become less reliant on oil, "said Akira Takatoriya, a consultant.
- The wealth fund's investments reflect the Saudi state's goals for 2030. Some of the technologies the PIF has targeted include renewable energy, big data analysis, and entertainment content.
- Price Action: NTDOF shares closed higher by 0.89% at $40.70.
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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