April 28, 2014 9:21 AM | 1 min read |
27% profits every 20 days?
This is what Nic Chahine averages with his options 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.
Bank of America (NYSE: BAC) shares fell more than 4 percent to $15.28 Monday morning following news from the company the Board will be
suspending the previously announced capital actions and resubmit the 2014 capital plan.BofA claims the downward revision to the previously disclosed regulatory capital amounts and rations are due to an incorrect adjustment related to the treatments of certain structured notes assumed in the Merrill Lynch acquisition back in 2009.Upon BofA's announcement at 8:33AM EDT, US futures fell noticeably. The S&P 500 e-mini clipped around 3 points to hit a pre-market low under 1,863. The Select Sector Financial ETF (NYSE: XLF) jumped $0.06 initially on the news, reaching $21.96 before promptly erasing any gains to settle around $21.86. As for the other major financial players, Goldman Sachs (NYSE: GS), JP Morgan (NYSE: JPM), and Wells Fargo (NYSE: WFC) all saw an initial bid response, only to follow the XLF lower. Citigroup (NYSE: C) promptly shaved about 0.5 percent. Regional banks like like First Niagara (NASDAQ: FNFG) and M&T Bank (NYSE: MTB) saw no response.
27% profits every 20 days?
This is what Nic Chahine averages with his options 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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