March 24, 2015 2:45 PM | 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.
Chesapeake Energy Corp. (NYSE: CHK) shares are trading higher by only $0.08 at $14.19 in Tuesday's session. Traders and investors that jumped on the Carl Icahn bandwagon early in today's session may be regretting their herd-like mentality.Last night it was revealed that Icahn had raised his stake in the company from 9.99 percent as of December 31 to 10.98 percent. The announcement instigated a sharp rally off the open from its Monday close of $14.11 to $14.88. That marks the highest level for the issue since it peaked on March 9 at $15.12.When there was no follow through to the upside, Chesapeake long-term trend of lower prices continued. The down may have exacerbated by aggressive that follows Icahn's lead and purchased the issue off the opening print and were quick to limit losses as it cascaded through its opening price ($14.75).So far, the decline has reached $14.16, which is just ahead of Monday's closing price ($14.11). If the decline continues over the next few days there may be minor support at the pair of lows from Friday ($13.60) and Monday ($13.63). Beyond that level, stands the six year low for the issue made last Thursday at $13.38.
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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