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.
David Bain of Sterne Agee reported on Tuesday that based on his channel checks, November Macau table-only gross gaming revenue (GGR) was Macau patacas (MOP) 17.9 billion ($2.24 billion) through November 23. The analyst adds that including slot assumptions, the November GGR run-rate implies a negative 20 percent year-over-year monthly result.
Bain states that October visitation to Macau rose 11 percent year-over-year with arrivals from Mainland China increasing 20 percent and now represents 69 percent of total visitations.
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!
The analyst notes that the visitation figures "demonstrate the desirability (especially of Mainland Chinese) to continue to visit Macau."
However, given the declines in gaming revenues, Bain states that the quality of customers visiting Macau continues to be "relatively weak" compared to a year ago, given China's recent anticorruption campaign and a "choppy" Mainland China macroeconomic backdrop.
Based on Bain's checks, Las Vegas Sands Corp. (NYSE: LVS) held a 23.1 percent table-only market share, making the casino operator the market leader in the region.
Melco Crown Entertainment Ltd (ADR) (NASDAQ: MPEL) held a 13.1 percent market share, making the company the fourth-largest operator by market share. MGM Resorts International (NYSE: MGM) ranked one spot lower with an 11.0 percent market share, while Wynn Resorts, Limited (NASDAQ: WYNN) ranked last in the region with a 7.5 percent market share.
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.