November 22, 2013 2:37 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.
Royale Energy, Inc. (Nasdaq: ROYL) today announced that it has set completion casing on the Emerald Ridge well, in the Sacramento basin of California. The well encountered two significant gas shows that required high weight drilling fluids in order to reach the total depth of nearly 4,700 feet. Electric logs over the zones of the gas shows were encouraging, but not conclusive, thus leading to the decision to run pipe to total depth in order to perform production testing on the well within the next few weeks. Prior to drill the Emerald Ridge, the Memento #1 reached a total depth of 6,000 ft, with Electric logs indicating three prospective gas zones in the Upper Forbes. The company will test the two lower most zones next week. The third and the shallowest of the pay zones occupy a large area and can potentially hold significant gas accumulations. This upper zone will be completed once the lower zones have been produced out. While the completion work on Memento and Emerald Ridge is underway, the company is moving the rig to its Cardiff well location some ¾ miles northwest of Royale's Bristol well which encountered pay zones
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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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