27% profits every 20 days?
This is what Nic Chahine averages with his options 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 Monday, the Dow traded down 0.15 percent to 17,364.51 while the NASDAQ surged 0.30 percent to 4,644.69. The S&P also fell, dropping 0.01 percent to 2,017.76.
Leading and Lagging Sectors
Technology shares climbed by 0.42 percent in today’s trading. Top gainers in the sector included Sapient (NASDAQ: SAPE), up 42.1 percent, and ASM International NV (NASDAQ: ASMI), up 25.2 percent.
In trading on Monday, energy shares were relative laggards, down on the day by about 0.61 percent. Top losers in the sector included Boardwalk Pipeline Partners LP (NYSE: BWP), down 4.6 percent, and LRR Energy LP (NYSE: LRE), off 4.7 percent.
Top Headline
Publicis (OTC: PUBGY) announced its plans to buy Sapient (NASDAQ: SAPE) for $3.7 billion in cash.
Publicis' offer of $25 per share represents a 44% premium to closing price of Sapient' on Friday.
Equities Trading UP
Sapient (NASDAQ: SAPE) shares shot up 42.32 percent to $24.65 after Publicis Groupe SA (OTC: PUBGY) agreed to acquire Sapient for $3.7 billion in cash.
Shares of Covance (NYSE: CVD) got a boost, shooting up 25.51 percent to $100.28 after Laboratory Corp of America Holdings (NYSE: LH) announced its plans to acquire Covance for around $6.1 billion in cash and stock. Covance also reported in-line earnings for the third quarter.
Geron (NASDAQ: GERN) shares were also up, gaining 19.73 percent to $2.67 after the company announced the removal of full clinical hold on Imetelstat IND.
Equities Trading DOWN
Shares of American Realty Capital Properties (NASDAQ: ARCP) were down 12.74 percent to $7.74 after RCS Capital (NYSE: RCAP) terminated its agreement to acquire Cole Capital from American Realty Capital.
Laboratory Corp. of America Holdings (NYSE: LH) shares tumbled 8.08 percent to $100.46 after the company announced its plans to acquire Covance for around $6.1 billion in cash and stock.
RCS Capital (NYSE: RCAP) was down, falling 13.59 percent to $14.18 after the company terminated its agreement to acquire Cole Capital from American Realty Capital.
Commodities
In commodity news, oil traded up 0.37 percent to $80.84, while gold traded down 0.19 percent to $1,169.40.
Silver traded down 0.63 percent Monday to $16.01, while copper rose 0.15 percent to $3.05.
Euro zone
European shares were lower today. The eurozone’s STOXX 600 tumbled 0.51 percent, the Spanish Ibex Index declined 0.59 percent, while Italy’s FTSE MIB Index dropped 1.17 percent. Meanwhile, the German DAX fell 0.56 percent and the French CAC 40 slipped 0.62 percent while UK shares dropped 0.66 percent.
Economics
The ISM manufacturing composite index gained to 59.00 in October, versus a prior reading of 56.60. However, economists were expecting a reading of 56.10.
The final reading of Markit manufacturing PMI fell to 55.90 in October, versus a prior reading of 56.20. However, economists were expecting a reading of 56.20.
US construction spending fell 0.40% in September, versus economists’ expectations for a 0.70% growth.
The Treasury is set to auction 3-and 6-month bills.
27% profits every 20 days?
This is what Nic Chahine averages with his options 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.
ENTER TO WIN $500 IN STOCK OR CRYPTO
Enter your email and you'll also get Benzinga's ultimate morning update AND a free $30 gift card and more!