July 31, 2014 3:07 PM | 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.
about his latest trades. Najarian said that he closed a position in
Melco Crown Entertainment Ltd (NASDAQ: MPEL) and took profits, and initiated a new long position in
Consolidated Edison (NYSE: ED), using the September call options.Mr. Najarian explained that he saw the opportunity in Melco at $32 and after it reached his target of $34, he decided to close. This was a great decision for him, because Melco currently trades at $33.09.A trade in Consolidated Edison is his fresh idea. He noticed that the utilities group started to move higher, but this one is selling off. The stock got under his radar as someone bought almost the three times the open interest at $57.5 line. Najarian expects that the price will bounce through $57.5 in two or three weeks, and he decided to follow the big traders and buy the September $57.5 calls. Con Ed is currently trading at $56.20.
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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