February 13, 2013 8:02 AM | 1 min read
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.
Citigroup downgraded Cliffs Natural Resources (NYSE: CLF) from Buy to Hold and lowered the price target from $48.00 to $38.00.Citigroup commented, "We are downgrading CLF to Neutral from Buy following disappointing iron ore pricing guidance across the various regions and cost guidance for Canada. This was compounded by the dividend cut and proposed equity raise. We are cutting our 2013 estimate to $1.14 from $4.00 based on an unchanged benchmark iron ore price forecast of $120/tonne, lowering our target price to $36. Our 2014 estimate drops to $2.40 from $5.30 based on $122/tonne iron ore. The primary driver of the lowered earnings outlook was lower than expected realized pricing from APIO and ECIO, as indicated by company guidance."Cliffs Natural Resources closed at $36.61 on 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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