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.
The Gap Inc. (NYSE: GPS) came with worse-than-expected third-quarter results on Thursday and reduced its forecast for next year. Additionally, the company announced new global presidents of both the GAP and Banana Republic unit.
This was a bad farewell to the outgoing CEO of GAP, Glenn Murphy, who will be replaced by Art Peck, currently the President of Growth, Innovation and Digital, at the company. Cross Ledge Fund manager, Lori Wachs, was recently on Bloomberg to discuss the dismal performance of the company and its future outlook.
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"He [Art Peck] has had such breadth and depth of experience across the Gap platform and his almost decade at the company. So, he is certainly coming in with the right tools. I think the change at the top of Banana Republic and Gap brand are him starting to put his imprint on it, even before he takes the helm in a few months."
On the profiles of the new global presidents, Jeff Kirwan and Andi Owen, Wachs said, "well, one of them comes from international expansion into China which actually Art Peck was the first person to spearhead and the other is coming from the outlet division."
"You see this, as they groomed Art Peck to take over the different division during his time, this is what they're doing and I would imagine given his background in both of those areas, these are the people he has worked closely with in the past and has a lot of confidence in them," Wachs added.
The Gap recently traded at $38.02, down 5.3 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.