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.
Top Headline
American Eagle Outfitters (NYSE: AEO) reported a drop in its third-quarter profit and issued a weak earnings forecast for the current quarter. American Eagle now projects Q4 earnings of $0.26 to $0.30 per share, versus analysts' estimates of $0.39 per share.
American Eagle's quarterly profit declined to $24.9 million, or $0.13 per share, versus a year-ago profit of $78.6 million, or $0.39 per share. Its adjusted earnings fell to $0.19 per share from $0.41 per share. Its revenue dropped to $857.3 million from $910.4 million. However, analysts were estimating earnings of $0.19 per share on revenue of $856 million. Equities Trading UP
AMR Corporation (OTC: AAMRQ), the parent company of American Airlines, gained 8.11 percent to $11.46 after a judge rejected a bid to block the AMR US Air merger on price claims.
Shares of Finisar (NASDAQ: FNSR) got a boost, gaining 1.28 percent to $22.04 as the stock gradually sold of on Friday's session following the company's upbeat Q2 results and strong Q3 forecast.
Auxilium Pharmaceuticals (NASDAQ: AUXL) was also up, gaining 12.11 percent to $21.67 following FDA approval of its Peyronie's disease treatment, Xiaflex.Equities Trading DOWN
Shares of Ulta Salon, Cosmetics & Fragrance (NASDAQ: ULTA) were down 21.05 percent to $93.18 after the company reported downbeat third-quarter results and issued a weak fourth-quarter outlook. Piper Jaffray downgraded the stock from Overweight to Neutral and lowered the target price from $129 to $113.
InterOil (NYSE: IOC) shares were down as well, falling 36.66 percent to $56.15 after the company announced it would sell its interest in a Papua New Guinea bloc to Total, for between $1.5 billion and $3.6 billion according to InterOil, and $1.2 billion according to Total. The deal appears to have disappointed traders as they smacked the stock down following the announcement.
CommoditiesIn commodity news, oil traded up 0.27 percent to $97.64, while gold traded down 0.47 percent to $1,226.50.
Silver traded up 0.03 percent Friday to $19.43, while copper rose 1.35 percent to $3.24.
EurozoneEuropean shares were higher today. The Spanish Ibex Index gained 0.09 percent, while Italy's FTSE MIB Index surged 0.73 percent. Meanwhile, the German DAX gained 0.96 percent and the French CAC 40 climbed 0.72 percent while U.K. shares rose 0.83 percent.
Economics
The U.S. economy added 203,000 jobs in November, while the country's unemployment rate declined to 7.0% from 7.3%. However, economists were projecting a gain of 185,000 jobs in the month.
The preliminary reading of the Reuter's/University of Michigan's consumer sentiment index rose to 82.50 in December, from a final reading of 75.10 in November. However, economists were expecting a reading of 76.00.
Data on consumer credit will be released at 3:00 p.m. ET.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.
ENTER TO WIN $500 IN STOCK OR CRYPTO
Enter your email and you'll also get Benzinga's ultimate morning update AND a free $30 gift card and more!