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.
Delta Air Lines, Inc. (NYSE: DAL) shares were trading lower by $2.35 (5 percent) at $43.86 in Wednesday's session. After three days of nearly identical ranges, the issue breached the lower end of the trading ($46.87) and closed at $46.11.
ENTER TO WIN $500 IN STOCK OR CRYPTO
Enter your email and you'll also get Benzinga's ultimate morning update AND a free $30 gift card and more!
The selling continued after a lower open with the issue not being able to even get above Tuesday's low ($46.11) before tanking to $43.35. That marks the lowest level for the issue since bottomed at $42.84 on May 6.
See Also: Why Airline Stocks Are Getting Killed Today
Since making the low, it has been finding intraday resistance at the $44 level.
It should be noted today's decline is taking place on much heavier than average volume. So far, it has traded 13.4 million shares compared with its 20-day average of 10.8 million with more than two hours remaining in the session.
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.