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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Today's Economic News:
Quote of the Day:
I got a new keyboard!
–Al
Current Breadth Readings:
We have this CVI chart, which continues to give our bullish stance angst. We need that 69K to be taken out.
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ES SP500 Futures Comments:
Short: 1419
Long: 1402
Were we lucky or what with that 1397 call yesterday for a reversal? We are getting better at finding those “stretch” targets where a technical level is broken on momentum and stretched to a max. That lower level today is 1402, although we suspect that, pending no really negative news, that the 1406 area should hold today. We want to claim 1418 for our bullish stance although for today we don't think the bulls can rise above 1419, so if hit early that is our look for a shorts area.
US Dollar DX Futures Comments:
We like how the day is starting, we also like the hold below 80.
TLT Twenty Year Bond ETF Comments:
There is an awful lot of work and effort going in to support lower rates and to keep the TLT above 124. Eventually, those should stall and, while we liked 122 yesterday and the day before that and again a few more times, we are moving our targets up now to 123 as time has scooted along. We need to see the TLT break.
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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.