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.
Scott Redler is a weekly guest on #PreMarket Prep, a daily trading idea radio show hosted by Joel Elconin and Dennis Dick.
T3 Trading Group Chief Strategist Scott Redler told Benzinga that he "cleaned out most of my longs" in Altera Corporation (NASDAQ: ALTR) on Friday.
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!
Intel Corporation (NASDAQ: INTC) agreed on Monday to acquire Altera for $16.7 billion, or $54 a share in cash.
"I've been long on Altera pretty much on and off, but mostly on for about three months," said Redler, whose firm does proprietary trading and offers training courses.
Altera shares gained nearly 40 percent during the past three months.
Altera initially rejected a $54 a share offer from Intel in April, according to multiple reports at the time.
But Altera shares gained sharply last week on reports that the deal got rekindled.
"When they first announced that deal back in April I didn't get involved," said Redler, whose firm held about $26.6 million in securities at December 31.
But he subsequently acquired Altera options.
"I'm looking at it and I was like, you know, this makes sense," said Redler.
"I made money on it," Redler said of recent Altera options. "I didn't make a lot of money."
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.