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.
Shares of InvenSense Inc (NYSE: INVN) are in play following certain developments.
On October 28, the company announced second-quarter earnings, missing EPS estimates by 68 percent; This sent shares down 25 percent to $16.08 per share.
Shares continued to trend lower eventually, making a bottom on November 14 at $13.50 per share.
Subsequent to the bottom, shares are up roughly 14 percent, adding 7 percent on Tuesday alone.
Benzinga has found three potential catalysts causing the rise in share price Tuesday.
A Motley Fool article speculating on takeover possibilities by the likes of Qualcomm or Intel.
An Oppenheimer analyst told Benzinga the rise in price may be a result of the scheduled presentations for this week. The analyst also noted similar price action in shares of RF Micro Devices and Integrated Device Technology Inc.
Lastly, as shares have been down sharply over the past two weeks, the quick rise in price may be a result of a dead cat bounce.
Shares of InvenSense recently traded at $15.10, up 7.6 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.
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