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 most overbought stocks in the energy sector presents an opportunity to go short on these overvalued companies.
The RSI is a momentum indicator, which compares a stock's strength on days when prices go up to its strength on days when prices go down. When compared to a stock's price action, it can give traders a better sense of how a stock may perform in the short term. An asset is typically considered overbought when the RSI is above 70.
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Here’s the latest list of major overbought players in this sector.
Teekay Tankers Ltd. (NYSE:TNK)
- Teekay Tankers reported better-than-expected Q4 results. The company’s stock has a 52-week high of $43.03 .
- RSI Value: 83.17
- TNK Price Action: Shares of Teekay Tankers jumped 13.3% to close at $42.32 on Thursday.
Civitas Resources Inc (NYSE:CIVI)
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- Civitas Resources reported mixed Q4 financial results. The company’s stock has a 52-week high of $84.76.
- RSI Value: 71.12
- CIVI Price Action: Shares of Civitas Resources jumped 13.1% to close at $70.17 on Thursday.
International Seaways Inc (NYSE:INSW)
- International Seaways, during November, posted Q3 GAAP EPS of $2.28. The company has a 52-week high of $48.12.
- RSI Value: 72.00
- INSW Price Action: Shares of International Seaways gained 4.9% to close at $45.71 on Thursday and added 2.2% in after-hours trading.
Archrock Inc (NYSE:AROC)
- Archrock posted better-than-expected sales for its fourth quarter. The company’s 52-week high is $10.44.
- RSI Value: 73.08
- AROC Price Action: Shares of Archrock gained 6.4% to close at $10.41 on Thursday.
Nordic American Tanker Ltd (NYSE:NAT)
- Nordic American Tankers, during November, posted in-line quarterly earnings. The company has a 52-week high of $3.94.
- RSI Value: 77.77
- NAT Price Action: Shares of Nordic American Tanker gained 5.8% to settle at $3.84 on Thursday.
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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.