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.
The S&P 500 closed higher on Friday, closing the week with gains. For the week, the S&P added 1.01%, while the Dow climbed 0.66%.
The PCE price index rose 0.2% month-over-month in June versus a 0.1% increase in May. Core PCE prices rose by 0.2% month-over-month in June easing from a 0.3% increase in the earlier month. The annual rate, which is the Fed’s preferred gauge for inflation, increased by 4.1%.
On Wednesday, the Fed raised its benchmark overnight interest rate by 25 basis points as expected.
Intel Corporation (NASDAQ:INTC) shares gained 6.6% on Friday after the company reported better-than-expected second-quarter results and issued strong guidance. Additionally, multiple firms raised their respective price targets on the stock. The Procter & Gamble Company (NYSE:PG) gained 2.8% after the company beat analysts' expectations for quarterly sales.
Majority of sectors on the S&P 500 closed on a positive note, with communication services and consumer discretionary stocks recording the biggest gains on Friday. However, utilities and real estate stocks closed lower during the Friday’s session.
The Nasdaq 100 rose 1.85% to close at 15,750.93 on Friday, amid gains in shares of Amazon.com, Inc. (NASDAQ:AMZN) and Tesla Inc (NASDAQ:TSLA).
The S&P 500 rose 0.99%, while the Dow Jones gained 0.50% to 35,459.29 in the previous session.
The Chicago Board Options Exchange's CBOE Volatility Index (VIX) fell 7.5% to close at 13.33 on Friday.
What is CBOE Volatility Index?
The CBOE Volatility Index, popularly known as VIX, is a measure of the equity market's expectation of volatility based on S&P 500 index call and put options.
Read Next: Insiders Buying Texas Capital Bancshares And 3 Other Stocks
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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