UPDATE: Jefferies Lowers PT on Renren Following 1Q13 Revenue

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 Tuesday, Jefferies analyst Cynthia Meng reiterated a Hold rating on Renren (NYSE: RENN), but slightly lowered the price target from $3.00 to $2.70.In the report, Meng noted, “1Q13 revenue and non-GAAP profit beat both consensus and our estimates. 2Q13 guidance is 8-11% below Street. Gaming pipeline for Android platform is delayed to 2H13. Advertising business remains challenging as 74% of traffic is now on mobile. Nuomi business continues to adopt market expansion strategy. Maintain Hold; PT revised down to USD2.70.”Renren closed on Monday at $2.99.

27% profits every 20 days?

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