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.
Teva Pharmaceutical Industries (NYSE: TEVA) opened with a bang Wednesday when the Israeli genetics behemoth announced an early retirement for chief executive Philip Frost, whose term was set to expire next year.
The company has recently seen a share of turmoil. "The board of directors is like a nuthouse," Ori Hershkovitz, a managing partner at Sphera Funds Management told Bloomberg earlier this year.
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Frost, in a letter to shareholders Wednesday, said he will step down "approximately by the end of the year." Frost holds 1.53 percent of Teva, making him the largest individual shareholder.
Frost, 77, also serves as Teva's chairman and had suggested earlier this year that he was considering the move. Frost took the CEO position in October 2013 after Teva's board fired Jeremy Levin.
Teva also said it will trim its board, naming Jean-Michel Halfon a director, while Chaim Hurvitz, Dan Suesskind and Dafna Schwartz will retire.
No CEO replacement has been announced.
Teva traded recently at $52.08 per share, up 1.21 percent.
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.