27% profits every 20 days?
This is what Nic Chahine averages with his options 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.
Midway through trading Monday, the Dow traded down 0.29 percent to 18,138.96 while the NASDAQ climbed 0.04 percent to 5,005.62. The S&P also fell, dropping 0.24 percent to 2,111.09.
Leading and Lagging Sectors
On Monday, the basic materials sector proved to be a source of strength for the market. Leading the sector was strength from Rentech Nitrogen Partners LP (NYSE: RNF) and Joy Global Inc. (NYSE: JOY).
In trading on Monday, technology shares slipped by 1.25 percent. Meanwhile, top losers in the sector included Bill Barrett Corporation (NYSE: BBG), down 9 percent, and Teekay Tankers Ltd. (NYSE: TNK), off 7 percent.
Top Headline
Dean Foods Co (NYSE: DF) reported stronger-than-expected earnings for the first quarter, and issued a strong forecast for the second quarter.
The Dallas, Texas-based company reported a quarterly net loss of $73.7 million, or $0.70 per share, versus a year-ago loss of $9 million, or $0.09 per share. Excluding non-recurring items, the company’s adjusted earnings came in at $0.24 per share.
Its sales declined to $2.05 billion from $2.34 billion. However, analysts were expecting a profit of $0.17 per share on revenue of $2.11 billion.
Equities Trading UP
Rosetta Resources Inc. (NASDAQ: ROSE) shares shot up 28 percent to $24.78 after the company agreed to be acquired by Noble Energy, Inc. (NYSE: NBL) in a deal valued at $2.1 billion.
Shares of Nevro Corp (NYSE: NVRO) got a boost, shooting up 23 percent to $55.95. Nevro reported a Q1 loss of $0.57 per share on revenue of $9.662 million. The company received the FDA approval for its Senza spinal cord stimulation system.
Zulily Inc (NASDAQ: ZU) shares were also up, gaining 10 percent to $14.56 following the report of a 9.2 percent stake by Alibaba. Alibaba Group Holding Ltd (NYSE: BABA) has taken a stake of more than 9% Zulily, according to a Form 4 filing on Friday. The Wall Street Journal reported on Saturday that Alibaba was not looking to acquire Zulily, according to a source.
Equities Trading DOWN
Etsy Inc (NASDAQ: ETSY) shares tumbled 9 percent to $20.68. Wedbush downgraded Etsy from Neutral to Underperform.
Shares of MannKind Corporation (NASDAQ: MNKD) were down 6 percent to $3.57. JP Morgan downgraded MannKind from Neutral to Underweight.
Noble Energy, Inc. (NYSE: NBL) was down, falling 5 percent to $46.47 after the company announced its plans to buy Rosetta Resources Inc. (NASDAQ: ROSE) in a deal valued at $2.1 billion.
Commodities
In commodity news, oil traded up 0.59 percent to $59.75, while gold traded down 0.68 percent to $1,180.80.
Silver traded down 1.46 percent Monday to $16.23, while copper fell 0.65 percent to $2.90.
Eurozone
European shares were mostly higher today. The eurozone’s STOXX 600 gained 0.29 percent, the Spanish Ibex Index rose 0.18 percent, while Italy’s FTSE MIB Index gained 0.04 percent. Meanwhile, the German DAX slipped 0.31 percent, and the French CAC 40 declined 1.23 percent while UK shares rose 2.07 percent.
Economics
On the economics calendar Monday, there is no important data due out.
27% profits every 20 days?
This is what Nic Chahine averages with his options 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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