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.
If you owned one of the iPhone 6 or 7 models, you could be receiving nearly $100 from Apple Inc (NASDAQ:AAPL) this week as the iPhone maker is finally paying dues related to the “batterygate” scandal.
What Happened: In 2017, iPhone users started complaining about poor device performance following certain iOS upgrades.
According to a Business Insider report, Apple eventually admitted to throttling the performance of some of its older iPhones and claimed that it did so to stop older phones from shutting down due to battery degradation.
A class action lawsuit was then filed that claimed Apple throttled the phones in an attempt to get users to upgrade their devices instead of recommending battery replacement alternatives.
In 2020, Apple reached a settlement without admitting that it did anything wrong. The iPhone maker agreed to pay between $310 million and $500 million based on the amount of claims filed.
In order to file a claim, you had to have owned an iPhone 6, 6 Plus, 6s, 6s Plus, 7, 7 Plus, or SE that used an operating system from 2017 and experienced a decline in performance. Claims had to be filed by October 2020.
Why It Matters: In August 2023, the settlement was finalized after the 9th U.S. Circuit Court of Appeals shot down an appeal by a couple of iPhone owners who objected to the initial terms. Around three million claims were recorded and the estimated payout was set at $65 per claim.
The Insider report indicates that various social media users have reported receiving their payouts this week, and the total is higher than previously expected. One X user shared a screenshot showing that he was paid multiple settlements of $92.17. Several other users reported receiving the same sum of $92 and change.
If you owned one of the iPhone 6 or 7 models and filed a claim before October 2020, you might have a pleasant surprise in your bank account this week.
Photo: courtesy of Apple.
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.
ENTER TO WIN $500 IN STOCK OR CRYPTO
Enter your email and you'll also get Benzinga's ultimate morning update AND a free $30 gift card and more!