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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The company has made its name as a lender by offering fast loans through its website to people whose credit scores are undesirable to traditional banks.
The company says it takes customers' financial responsibility into account by lowering the cost of its loans for borrowers who demonstrate positive habits. Now, the company is looking to help deep subprime customers whose FICO scores are between 500 and 650 by allowing them reduce their APR with multiple co-signing options.
Friends And Family Discount
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LoanNow will allow potential customers to gather friends and family as micro-cosignatories. Each person can vouch for between $25 and $500 to lower the loan's interest rate.
The company said that a borrower will have the capacity to reduce their APR by 50 percent by securing $1,000 worth of vouchers from 10 or more people.
An Alternative To Payday Loans
The program creates a new option for people whose credit scores only allow them to take out an expensive payday loan and marks an interesting innovation in the lending space.
LoanNow says its algorithms use much more than just a customer's credit score to calculate the cost of a loan, rewarding those who've improved their spending habits recently.
The company is also planning to offer its deep subprime customers the option to meet financial goals, like making early payments or larger payments, the opportunity to lower the cost of their loan.
Image Credit: Public Domain27% 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.