UPDATE: Pacific Crest Securities Reiterates On 58.com Following Strong Results/Guidance

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.

In a report published Friday, Pacific Crest Securities analyst Cheng Cheng reiterated an Outperform rating on

27% profit every 20 days?

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58.com

(NYSE: WUBA), but lowered the price target from $58.00 to $55.00.In the report, Pacific Crest Securities noted, “WUBA issued strong Q1 results and Q2 guidance. While spending is increasing somewhat, we view the increase as moderate and reasonable. Although we are lowering our PT to $55, we continue to believe WUBA is in front of a large opportunity for increasing monetization and would be buyers of the stock.”58.com closed on Thursday at $38.29.