February 1, 2013 9:24 AM | 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.
Scorpio Tankers Inc. (NYSE: STNG) (the "Company") announced today that it has reached anagreement with SPP Shipbuilding Co., Ltd. of South Korea ("SPP") forthe construction of four MR product tankers for approximately $32.5million each, two of which are the exercise of options from aprevious contract. These vessels will be delivered in the third andfourth quarters of 2014 and are a continuation of the Company'sexisting newbuilding program for fuel-efficient vessels. Inconjunction with these contracts, the Company received extensions onseveral previously agreed options and received four new fixed priceoptions for similar vessels which would be delivered in 2015. The Company currently has a total of 16 MR product tanker newbuildingorders with Hyundai Mipo Dockyard Co. Lt. of South Korea and SPP. Twoare expected to be delivered to the Company by April 2013 and theremaining 14 within 2014. The Company also has fixed-price options to construct a total of 14 additional newbuilding product tankers atthese yards.
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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