FXCM Inc (NYSE: FXCM) announced today that it will not pursue 90 percent of its clients who incurred negative balances as a result of extreme price movements following a Swiss National Bank decision two weeks ago. Shares of the stock are indicated 6.7 percent higher in premarket trading.
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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Despite the forgiveness, FXCM will pursue roughly 60 percent of the total debit balances, which are all concentrated within 10 percent of clients. FXCM identified these individuals as institutional, high net worth, and experienced traders with higher account balances.
The negative balances almost forced FXCM into insolvency; however, the company was able to secure a $300 million loan from Leucadia National Corp. (NYSE: LUK). The terms of the deal were severe, and FXCM is looking to sell non-core assets to raise cash.
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.