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.
Apple Inc. (NASDAQ: AAPL) shares were trading higher by $1.17 at $132.56 in Friday's session. It has outperformed the S&P 500 index, with Apple shares are higher by 3 percent.
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The rally was kick-started on Monday when Carl Icahn revealed his plan for the company to reach his projected price target of $240. His plan is predicated on the the company continuing its rapid growth rate and putting its cash hoard to work by increased share buyback that will put additional pressure on fund managers already underinvested in the issue.
Related Link: Everything You Need To Know From Carl Icahn's Apple Letter
Following Monday's $1.42 gain, it hovered around the $130 level for two days, tacked on another $1.33 on Thursday and is grinding higher in today's session, so far reaching $132.97. It is poised to improve on its all-time closing high ($132.65) that was put in place before its blockbuster Q1 report earlier this year.
Its all-time high ($134.54) was made on the day following the report, but investors that anticipated the great quarter choose to take profits. As a result, it ended that session at $130.56 and drifted down to $124.58 before mounting its current rally.
Tech expert Sean Udall stated on Friday's #Premarket Prep that based on his analysis, Apple may reach the $145 ($1015 split-adjusted) level by mid-summer.
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.