November 25, 2013 3:31 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.
Shares of Salesforce.com (NYSE: CRM) have tumbled below the $53 level Monday afternoon, down about 3.5 percent at last check. The stock touched an intraday low at $51.85.Traders in the name are responding to an earlier note from Arete Research's Adam Shepherd in which the analyst reiterated Salesforce.com as one of the top stocks to short. Shepherd is expecting shares of Salesforce.com to fall to around $24.Sheperd cited decelerating growth in Salesforce's core operations and noted the company's seemingly heavy reliance on ExactTarget operations to achieve near-term goals. The Arete analyst also raised concerns related to Salesforce's decreasing free cash flow and increase opex. With Salesforce.com shares last trading at $52.74, Sheperd's new price target implies potential downside of more than 54 percent. Trading in Salesforce.com shares seems rather heavy Monday afternoon. With about a half hour left in the intraday session, more than 7 million shares have exchanged hands, compared to the stock's average daily volume of just over 5 million shares.
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.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.