February 12, 2013 9:18 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.
CN (NYSE: CNI) announcedtoday that it is suspending the feasibility study for the construction of itsproposed rail line and terminal handling facility to serve the Quebec/Labradoriron ore range.The feasibility study was initiated last August by CN and its partner LaCaisse de dépôt et placement du Québec (the "Caisse"), along with a group ofsix mining companies. The study has been progressing steadily over the pastseveral months. However, the current market realities have resulted inanticipated delays with mine development projects in and around the LabradorTrough. A joint review of the project together with the mining companiesindicates that mine construction schedules and diverging needs for eachspecific individual project will make it difficult to obtain the criticalvolumes of iron ore necessary to support the building of new rail and terminalinfrastructure by CN.The decision by some miners in the region not to join the group of miningcompanies supporting the CN infrastructure project is also a factor in themuch-lower-than-projected iron ore volumes that are now expected to be shippedin the foreseeable future.Luc Jobin, executive vice-president and chief financial officer of CN, said:"We have invested considerable effort and resources towards the feasibilitystudy, but in light of the circumstances, CN has concluded that it is notadvisable to continue with the feasibility study at this time."Michael Sabia, President and Chief Executive Officer of the Caisse, added that"we understand that conditions in the global economy prevent undertaking theproject at this time. As a long term investor, the Caisse remains open toparticipating in infrastructure projects that will facilitate the developmentof Northern Québec, always in partnership with an experienced partner that canminimize the operational risks. The Caisse is convinced that the long-termstructural trends in the global economy will be favorable to the developmentof Québec's natural resources sector."
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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