Day Marred by Falling Share Price and Low Volumes (C, WFC, MS, GS)


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.


Share prices of some of the financial companies continue to show weakness for the second day today. The volumes of these stocks also remained quite low, probably as a result of investors heading out of town for the Thanksgiving weekend. Citigroup Inc (NYSE: C) continued to follow its weak trend after showing some strength on November 18. Citi's shares are currently trading at $4.20, after falling by 1.29% since the start of the day. Citi's volume is low, with little more than 95 million shares traded so far. Wells Fargo & Company (NYSE: WFC) shares broke their uptrend on November 18. Wells Fargo's shares are currently trading at $27.83, after slipping by 1.74% since the start of the day.Wells Fargo's volume has been low, trading 29.67 million shares, which is very short of the average of 47.42 million. Morgan Stanley (NYSE: MS) shares have been showing continued weakness from November 16, when the share price touched $34.50. Morgan Stanley's shares have declined by 0.40% so far today to trade at $32.18. Morgan Stanley's volume is also weak, with just over 7.5 million shares traded since the start of the day. Goldman Sachs Group (NYSE: GS) shares had remained steady over the week before succumbing to the weakness in the markets on November 19. Goldman Sachs' shares are currently trading at $171.09, after slipping by 1.01% so far during the day. Goldman Sachs volume so far today stands at 5.5 million shares traded.

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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