July 24, 2013 1:46 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.
In a report issued Wednesday morning, Cowen analyst J.B. Lowe reiterated his Outperform rating and $9.50 price target on Hercules Offshore (NYSE: HERO), saying the fire on its 265 platform presented a solid buying opportunity.The fire, which caused shares to drop significantly on Tuesday's session, is expected to yield $47 million in book value insurance proceeds. The damaged 265 rig contributes roughly 4 percent of the company's EBITA for 2014, and could be deemed a total loss.Lowe also stated that the removal from the Gulf of Mexico jackup would be a positive for jackup rates in the future. As a side note, Hercules currently has 18 of 35 active jackups in the Gulf of Mexico.Following the news Hercules shares fell sharply, and have since recovered, remaining down 5.20 percent to $7.29 midway through trading Wednesday.
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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