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.
Joel Elconin is the co-host of Benzinga's #PreMarket Prep, a daily trading idea radio show.
BlackBerry Ltd (NASDAQ: BBRY) shares were trading higher by $0.38 (3.7 percent) at $10.89 in Thursday's session. The issue is adding to its gains from from Wednesday's session. Those gains were predicated on the announcement of a software project with Google (NASDAQ: GOOG).
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Prior to the announcement, it had put in a place a series of seven lows within a fairly narrow range from $10.06-$10.26. On Wednesday, it was creeping higher throughout the session and caught added boost when the deal was announced.
The ensuing rally took the issue to $10.80 before backing off to settle at $10.51. After a modestly higher open (Wednesday's close of $10.51 vs. Thursday's open of $10.59), the rally continued through $10.80, reaching $10.95 so far in today's session.
If the rally continues, there may be some resistance at its January 22 high ($11.11). It has not closed over $11.00 since January 14, when it ended the session at $12.60.
That was the same day rumors surfaced of a possible buyout by Samsung. Once those report were refuted, it fell $2.50 the following session and labored at the $10.00 level over the next month.
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.