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 materials 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.
Gold Fields Limited (NYSE:GFI)
- Gold Field reported a rise in FY sales results. The company’s stock has a 52-week high of $16.92 .
- RSI Value: 71.21
- GFI Price Action: Shares of Gold Fields gained 2.7% to trade at $11.86 on Monday.
DRDGOLD Limited (NYSE:DRD)
- HC Wainwright & Co, last month, maintained DRDGold with a Buy and lowered the price target from $15.25 to $15. The company’s stock has a 52-week high of $10.19.
- RSI Value: 71.21
- DRD Price Action: Shares of DRDGOLD rose 5.3% to trade at $8.79 on Monday.
AngloGold Ashanti Limited (NYSE:AU)
- The company’s stock gained around 17% over the past month. The company has a 52-week high of $25.27.
- RSI Value: 71.44
- AU Price Action: Shares of AngloGold Ashanti gained 3.5% to trade at $21.35 on Monday.
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.