August 5, 2010 2:04 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.
Disappointing July same-store sales by retailers dragged down the retail sector today. Although results of some retailers were impressive, most of the retailing firms failed to meet the expectations. Wet Seal Inc (NASDAQ: WTSLA) was on the downtrend and lost nearly 2% after it said that its second-quarter profit may come in at the low end of its previous forecast. The company’s July sales had declined more than expected. At 1:51 pm, WTSLA lost 1.20%. Costco Wholesale (NASDAQ: COST) fell 1.77% even though its sales rose 6%, reflecting better than expected gains. COST’s sales were aided by higher gas prices and favorable currency exchange rate. Retailer Big Lots (NYSE: BIG) has slipped 7.08% to $32.01 as its sales for the second quarter missed its original forecast. Hot Topic Inc (NASDAQ: HOTT) has also given up 4.37% after it forecast a huge loss on a 9% decline in sales. Analysts had expected 2.6% fall in sales. Another loser in the retail sector is Buckle Inc (NYSE: BKE), which shed 3.90% after it reported a 9% fall in its July sales, as compared to a 1% decline expected by analysts. Read more
from Benzinga's Markets.
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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