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 significant move on Monday, Cathie Wood-led Ark Invest made a headline-grabbing trade by selling a substantial amount of ProShares Bitcoin Strategy ETF (NYSE:BITO) units and concurrently increasing its stake in the ARK 21Shares Bitcoin ETF (NYSE:ARKB). This strategic shift in Ark Invest’s cryptocurrency portfolio aligns with recent market trends.
The BITO Trade
On Monday, Ark Invest offloaded 648,091 units of BITO, worth $12.6 million, a move that aligns with Wood’s recent strategy of focusing more on their own Bitcoin ETF, ARKB. The BITO units were sold through ARK Next Generation Internet ETF (NYSE:ARKW), while ARKB units were purchased through the same fund.
This decision comes amidst a dynamic cryptocurrency market, as detailed in a recent Benzinga report.
The trade reflects Ark’s confidence in their own product, as they simultaneously purchased 523,541 ARKB units — valued at $21.04 million, indicating a strong belief in the potential of their Bitcoin ETF.
it should be noted that Bitcoin (CRYPTO: BTC) dropped below the psychologically important $40,000 mark on Monday for a brief period. At the time of publishing, the apex cryptocurrency traded 2.7% lower at $40,021.77. The decline in the apex cryptocurrency occurred in the backdrop of a substantial outflow from Grayscale’s GBTC ETF as investors cashed in on profits or shifted to more cost-effective alternatives
Other Key Trades:
- Ark Invest also increased its holdings in Meta Platforms Inc (NASDAQ:META), buying 20,720 shares, worth $7.9 million through ARKW. This decision likely stems from Meta’s recent announcement of major AI initiatives, as highlighted by Benzinga.
- Conversely, Ark reduced its stake in Microsoft Corp (NASDAQ:MSFT), selling 4,093 shares worth $1.62 million via ARKW. This move might be influenced by the evolving AI landscape, where Microsoft’s CEO shared critical insights at Davos, as reported by Benzinga.
See Also: Cathie Wood Predicts Deflation In 2024, More AI And Tech Optimism, And Rate Cuts
Photo courtesy Benzinga YouTube and Unsplash
Read Next: Cathie Wood, Elon Musk To Talk AI, Space, And More On X Spaces This Week
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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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