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.
Movado Group, Inc. (NYSE: MOV) announced third quarter results Tuesday for the third quarter ended October 31, 2014.
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Sales were $188.6 million, below estimates of $188.7 million and the $189.7 million reported in the third quarter of fiscal 2014 driven by a decline in the luxury brand category and certain licensed brands.
Net income was $22.2 million, or $0.87 per diluted share, $0.01 above estimates and below the net income of $23.0 million, or $0.89 per diluted share, in the third quarter of fiscal 2014.
Efraim Grinberg, Chairman and Chief Executive Officer, stated, “Our third quarter results were in line with the updated guidance we issued on November 14, 2014 and reflected softer than expected sales and earnings that were impacted by our strategic investment in initiatives that position our Company to drive long-term growth.”
As announced on November 14, 2014 for fiscal 2015, the Company currently anticipates that net sales will increase approximately 1% to 2% to a range of $585 million to $590 million, operating profit will be approximately $68 million to $70 million and earnings per diluted share will be in the range of $1.80 to $1.85, assuming a 31% effective tax rate, excluding any unusual items.
For the fourth quarter, the Company currently anticipates net sales in the range of $132 million to $137 million, operating profit of $6.5 million to $8.5 million and earnings per diluted share in the range of $0.18 to $0.23 assuming no significant fluctuations in foreign currency exchange rates. Our operating profit will continue to be impacted due to our continued strategic investment in brand building and growth initiatives despite lower sales growth. This guidance is on a comparable basis to non-GAAP fiscal 2014 results adjusted for unusual items.
Movado Group, Inc. closed Monday at 26.93, up 1.89 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.