May 7, 2013 1:51 PM | 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.
Shares of
Apple (NASDAQ: AAPL), the largest U.S. technology company by market value, are trading slightly lower in early afternoon trading despite news that David Einhorn's Greenlight Capital has boosted its stake in the iPhone maker.On a Tuesday conference call for, Einhorn said, "We've added to our Apple position. Now we just wait for the release of Apple's next blockbuster product,"
Reuters reported.At the end of last year, Greenlight Capital held 1.3 million Apple shares making the stock
the hedge fund's largest holding. Other top Greenlight holdings at the end of the fourth quarter included
General Motors (NYSE: GM) and
Cigna (NYSE: CI).Einhorn did confess Apple's first-quarter tumble was the biggest drag on Greenlight's portfolio. However, the hedge fund manager known for being among the first to spot the coming collapse of Lehman Brothers during the financial crisis, has been among the leaders in pushing Apple to do more with its $100 billion in cash.The California-based company recently announced it will boost its dividend and buyback program while issuing $17 billion in bonds, the largest corporate bond offering on record. Einhorn did not specify what Greenlight's Apple stake is today.
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.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.