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.
BMO Capital Markets analyst Michael Zaremski upgraded RenaissanceRe Holdings Ltd (NYSE:RNR) to Outperform from Market Perform with an increased rating of $216 from $198.
The analyst is bullish on higher-than-expected expense synergies from the recent acquisition of American International Group's (NYSE:AIG) reinsurance business.
In May, RNR disclosed a deal to buy AIG's treaty reinsurance business for $2.985 billion.
Also, Zaremski expects RNR to benefit from double-digit demand increases for property reinsurance on population and wage growth trends to catastrophe-prone regions, such as Florida and Texas.
However, the analyst is cautious about the company's flattish reinsurance pricing-power levels in 2024 after around 30% growth in 2023 and several major catastrophes in 2023.
Nevertheless, Zaremski raised EPS estimates to $7.39 (from $6.16 earlier) for Q2, $24.46 (from $22.01) in 2023, and $27.69 (from $26.13) in 2024.
Price Action: RNR shares are trading higher by 1.7% at $192.50 on the last check Tuesday.
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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