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.
Alibaba Group Holding Limited (NYSE:BABA) shares are trading higher Wednesday due to upbeat results posted by the Chinese tech companies this week despite investor concerns.
Baidu, Inc (NASDAQ: BIDU) reported a first-quarter FY23 revenue growth of 10% year-on-year to $4.535 billion Tuesday, beating the consensus of $4.310 billion. Baidu's Core revenue increased 8% Y/Y to $3.35 billion
Revenue from IQIYI, Inc (NASDAQ:IQ) increased 15% Y/Y to $1.22 billion Tuesday, beating the consensus of $1.15 billion.
Also, Tencent Music Entertainment Group (NYSE: TME) reported first-quarter revenue growth of 5.4% year-over-year to $1.02 billion Tuesday, beating the consensus of $985.62 million.
Online music service revenues grew by 33.8% Y/Y to $510 million. Revenues from social entertainment services and others decreased by 13% Y/Y to $510 million.
On Wednesday, Tencent reported an 11% topline growth to 149.98 billion yuan ($21.70 billion) for the three months ended March 31, topping the 146.09 billion yuan consensus.
Net profit rose 11% to 25.83 billion yuan, missing the 29.67 billion yuan consensus, Reuters reports. Domestic gaming revenue gained 6% to 35.1 billion yuan, while international gaming revenue rose 25% to 13.2 billion yuan.
According to analysts, Chinese tech barometer Alibaba Group Holding Limited (NYSE:BABA) will likely report revenue that grew less than 3% Thursday as China's post-Covid recovery is losing steam, reducing the expectancies of a boost in Chinese tech shares from earnings. Analysts expected Tencent's sales to lag the double-digit pace of the past still.
However, analysts also believe BABA's transformation into a holding company should increase transparency and accountability, boost competitiveness and unlock shareholder value. Wide application of Alibaba's generative AI model should drive operational improvements and growth.
Also, this week, Dan Loeb's Third Point ramped up its stake in Alibaba.
Price Action: BABA shares traded higher by 2.16% at $90.67 on the last check Wednesday.
Photo by Rico Shen via Wikimedia
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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