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.
In a report published Thursday, Canaccord Genuity analyst T. Michael Walkley upgraded the rating on Spreadtrum Communications (NASDAQ: SPRD) from Hold to Buy, and raised the price target from $24.00 to $29.00.
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.
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In the report, Canaccord Genuity noted, “Spreadtrum significantly raised its Q2/13 sales guidance well above its prior guidance and above our expectations driven by continued strength in affordable smartphone sales in China. We believe Spreadtrum's 2.5G and EDGE design wins with Samsung, strong ongoing sales of single-core TD-SCDMA chipsets to affordably priced smartphones selling in tier 3 to tier 6 cities in China, ramping sales of recently launched dual-core solutions, and expanding product portfolio contributed to the increased guidance. With an expanding portfolio combined with accelerating low-end smartphone growth in emerging markets, we believe Spreadtrum should post strong sales growth through 2014 despite increased TD-SCDMA competition and a secular decline in the global feature phone market. We increase our price target to $29 from $24 and upgrade to BUY from HOLD.”
Spreadtrum Communications closed on Wednesday at $18.95.