July 24, 2014 8:39 AM | 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.
3M Company (NYSE: MMM) reported in-line earnings for the second quarter. The St. Paul, Minnesota-based company posted a quarterly net profit of $1.27 billion, or $1.91 per share, versus a year-ago profit of $1.2 billion, or $1.71 per share. Its sales climbed 4.9% to $8.13 billion from $7.75 billion. However, analysts were projecting earnings of $1.91 per share on sales of $8.1 billion. Organic local-currency sales rose 6.4% in Electronics and Energy, and surged 5.1% in Health Care. Organic local-currency sales surged 4.7% in Industrial and rose 4.7% in Safety and Graphics. Organic sales also jumped 4.2% in Consumer business. Organic local-currency sales jumped 6.6% in Asia Pacific, 4.8% in Europe, Middle East and Africa and 4.5% in the U.S.“Our businesses continued to execute very well in the second quarter,” said Inge G. Thulin, 3M's chairman, president and chief executive officer.For 2014, 3M affirmed its earnings forecast of $7.30 to $7.55 per share on revenue growth of 3% to 6%. Analysts expected earnings of $7.47 per share on 4% revenue growth.3M shares rose 0.61% to $146.00 in pre-market trading.
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.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.