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 concerning trend for the U.S. economy, 1.2 million more Americans have been classified as “subprime borrowers” over the past year, according to a recent analysis by Money.com of data released by VantageScore. This surge brings the total number of Americans in this category to over 47 million as of February 2024.
The latest VantageScore models score approximately 94% of all adults 18 and older, meaning nearly 20% of all borrowers now fall into the subprime tier.
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Subprime borrowers are individuals with credit scores ranging from 300 to 600, indicating a higher risk to lenders. This classification can have significant implications for their financial lives, making it challenging to obtain loans, secure affordable interest rates and even impact their ability to rent properties or secure employment.
The rise in subprime borrowers is attributed to an uptick in delinquencies across various types of loans, including auto loans, credit cards, mortgages and personal loans. VantageScore, a credit-scoring firm developed by the “big three” credit bureaus Equifax, Experian and TransUnion, has observed this trend across all credit-score tiers.
As more Americans fall into the subprime category, the divide between consumers with prime and super-prime credit scores and those with subprime scores is becoming more pronounced. Susan Fahy, chief digital officer at VantageScore, notes that the current high-interest rate environment, a result of the Federal Reserve’s efforts to combat inflation, is exacerbating the situation. While individuals with near-perfect credit scores can still manage their finances effectively, those with subprime scores are struggling to keep up with credit payments.
The implications of this shift are far-reaching, affecting not only the individuals with lower credit scores but also the broader economy. As access to affordable credit becomes more restricted for a growing segment of the population, consumer spending and economic growth could be impacted.
Experts recommend that individuals in the subprime category take proactive steps to improve their credit scores, such as paying bills on time, reducing debt levels and avoiding new credit inquiries.
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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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