August 3, 2010 4:40 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.
Priceline.com (NASDAQ: PCLN) reported very strong second-quarter results after the closing bell on Tuesday, and it looks like short-sellers are scrambling to cover their positions as the stock has surged an incredible 15.63% to $266.72 in the after hours. As of the middle of July, around 10% of PCLN's float was sold short. The company reported Q2 adjusted net income of $158.15 million or $3.09 per share, compared to $98.98 million or $2.02 per share, in the year ago period. This blew away analysts' consensus EPS estimates of $2.65. Total revenues were $767.44 million versus $603.74 million last year. Analysts had projected the company would report revenue of $733.04 million for the quarter.Management said that they are targeting Q3 non-GAAP EPS between $4.78 and $4.98. Currently, Wall Street is estimating PCLN will earn $4.18 per share in the third quarter.
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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