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.
Joel Elconin is the co-host of Benzinga's #PreMarket Prep, a daily trading idea radio show.
Kite Pharma Inc (NASDAQ: KITE) shares were trading higher by $3 (5 percent) at $61 in Monday's session. On Friday, the issue swooned to its lowest level ($53.80) since June 4 when it bottomed at $53.44. Only eight sessions ago, the issue posted its all-time high ($78.74) and all-time closing high price ($76.50).
There are two catalysts that are playing a role in today's rebound.
First of all, the company gave an update on KTE-C19 trail and reported it's on track to advance to PIVOTAL Phase 2 Trail.
In addition, the company was initiated at Buy by Standpoint Research and announced a $100 price target.
After a sharply higher open ($62.58 vs. Friday's close of $58) it retreated to $59.78 before resuming its rally. So far, it has reached $64.63 before falling back to the $61 level.
Today's price action is taking place on higher than average daily volume. So far, it has traded 1.59 million shares compared with its 20-day average of 905,000 with over four hours remaining in the session.
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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