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.
Following the market opening Thursday, the Dow traded down 0.14 percent to 16,782.00 while the NASDAQ gained 0.03 percent to 4,423.40. The S&P also fell, dropping 0.02 percent to 1,945.75.
Leading and Lagging Sectors
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In trading on Thursday, cyclical consumer goods & services shares were relative leaders, up on the day by about 0.12 percent. Top gainers in the sector included RealD (NYSE: RLD), up 25 percent, and The Female Health Company (NASDAQ: FHCO), up 17 percent.
Energy sector was the top decliner on Thursday. Top losers in the sector included Halcon Resources (NYSE: HK), down 6.9 percent, and Swift Energy Co (NYSE: SFY), off 6.2 percent.
Top Headline
Constellation Brands (NYSE: STZ) reported weaker-than-expected fiscal second-quarter results.
The company posted quarterly net income of $196 million, or $0.98 per share. Its adjusted earnings came in at $1.11 per share, missing analysts’ estimates of $1.15 per share.
Its sales gained 10% to $1.608 billion, versus expectations of $1.643 billion.
Equities Trading UP
Esperion Therapeutics (NASDAQ: ESPR) shares shot up 14.25 percent to $27.90 after the company announced positive top-line Phase 2b results for ETC-1002.
Shares of RealD (NYSE: RLD) got a boost, shooting up 25.03 percent to $11.59 after Starboard Value offered to acquire the rest of the shares in RealD (NYSE: RLD) for $12 per share. Starboard Value disclosed in a SEC filing that it had taken a 10% stake in RealD.
Ariad Pharmaceuticals (NASDAQ: ARIA) shares were also up, gaining 9.62 percent to $5.79 after the company reported that its investigational cancer medicine, AP26113, has received Breakthrough Therapy designation by the FDA for ALK+ non-small cell lung cancer resistant to crizotinib.
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Equities Trading DOWN
Shares of Cree (NASDAQ: CREE) were down 14.66 percent to $33.81 after the company announced preliminary financial results for the first quarter.
Park Electrochemical (NYSE: PKE) shares tumbled 10.11 percent to $20.89 after the company reported Q2 results.
NewLink Genetics (NASDAQ: NLNK) was down, falling 3.05 percent to $22.25 after rising 7.14% on Wednesday. NewLink Genetics appointed Jack Henneman as Chief Financial Officer.
Commodities
In commodity news, oil traded down 0.44 percent to $90.33, while gold traded down 0.18 percent to $1,213.30.
Silver traded down 1.50 percent Thursday to $17.00, while copper fell 0.99 percent to $3.01.
Eurozone
European shares were lower today. The eurozone’s STOXX 600 declined 1.33 percent, the Spanish Ibex Index fell 2.04 percent, while Italy’s FTSE MIB Index slipped 2.73 percent. Meanwhile, the German DAX dropped 0.79 percent and the French CAC 40 fell 1.34 percent while UK shares fell 0.62 percent.
Economics
US jobless claims declined 8,000 to 287,000 in the last week of September.
US factory orders fell 10.10% in August, versus economists’ expectations for a 9.50% decline.
The Treasury is set to auction 3-and 6-month bills.
Data on money supply will be released at 4:30 p.m. ET.
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.