April 22, 2013 9:10 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.
In a report published Monday, Deutsche Bank analyst Jorge Beristain downgraded the rating on Kinross Gold Corporation (NYSE: KGC) from Buy to Hold, and lowered the price target from $9.00 to $6.00.In the report, Beristain noted, “Recent performance has been driven by increased risk associated with its sharp diversification into West Africa (Ghana and Mauritania). Near-term growth is dependent on remediation of issues at Tasiast (Mauritania) and successful execution of Dvoinoye (Russia). Longer-term, Kinross' outlook hinges on projects such as Tasiast expansion, Lobo Marte (Chile) and Fruta del Norte (Ecuador), which have the potential to increase gold equivalent production to ~3.6m oz by 2018 (from 2.6m oz in 2012). Given our more cautious view on the gold sector, we are downgrading Kinross to Hold from Buy as expected upside from current levels do not compensate for higher-than-average execution/country risk and relative higher cost structure than other gold producers in our coverage universe.”Kinross Gold Corporation closed on Friday at $5.33.
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.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.