October 1, 2010 8:47 AM | 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.
Piper Jaffray has downgraded Christopher & Banks Corporation (NYSE: CBK) to Neutral based on 2Q earnings that were below estimates.In its research report, Piper Jaffray writes "FQ2 sales below our estimate following poor August results. Same store sales were up 1% in FQ3, below our estimate of +6% and management's expectations for "in-line or better than +5%". It appears that sales noticeably dropped off in August as the customer responded poorly to its early Fall deliveries. Although conversion improved y/y in FQ2, this was more than offset by a decline in traffic, resulting in a decrease in transactions y/y. Average-ticket-price increased in FQ2, driven by an increase in units-per-transaction which was slightly offset by a decline in average-unit-retail."Piper Jaffray has also lowered the price target from $14 to $9.Christopher & Banks Corp. closed yesterday at $7.91.
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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