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.
Carvana Co. (NYSE:CVNA) shares traded higher on Wednesday after JMP Securities raised its price target on the stock.
Carvana shares are up more than 250% in just the last three months. The surge in shares was sparked by the company's better-than-expected financial results at the beginning of May.
On CNBC’s "Options Action," Brian Stutland of Equity Armor Investments said Carvana traded at 2.2x its average daily call volume on Wednesday.
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There was a buyer of 3,000 of the July 14 weekly 46-calls at an average price of $1.70 per contract, Stutland mentioned.
The trader expects Carvana’s stock to trade above the $47.70 level by the end of the week.
JMP Securities analyst Nicholas Jones maintained coverage on Carvana with a rating of Outperform and raised the price target from $25 to $50.
Price Action: Carvana shares jumped 9.3% to close at $38.89 on Wednesday, and added 2.7% in the after-hours trading session.
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Photo: Shutterstock
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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