June 10, 2010 2:55 PM | 1 min read |
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.
Energy stocks surged today, along with the broad market, as BP PLC (NYSE: BP) made a come-back from its lowest levels in the last 14 years. The sector’s gains were also led by a higher-than-anticipated fall in crude oil inventories during yesterday’s session.Appearing bullish, the Dow Jones Industrial Average climbed 188.63 points, or 1.91%, to 10,088, by 12:39 pm. Dow components Exxon Mobil (NYSE: XOM) surged 2.18% and Chevron (NYSE: CVX) rose 3.16%.The NYSE Arca Oil Index (XOI) advanced 3.62% to 916.45. The NYSE Arca Natural Gas Index (XNG) climbed 3.14% to 516.31. The Philadelphia Oil Service Index (OSX) rose 4.23% to 169.49.Shares of BP rallied 8.05% to $31.55, by 12:57 pm. Although, BP was downgraded by S&P Equity Research from “buy” to “hold,” the analysts believe that the steep decline in BP’s share price was unjustified and the company is trading far lower than its true value. The analysts added, "the uncertainties arising from the Gulf of Mexico rig accident, the political sensitivities regarding BP keeping its 2010 dividend, the costs of the clean-up, upcoming civil charges and potential U.S. government resolutions."Read more
from Benzinga's Markets.
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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