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.
Toward the end of trading Monday, the Dow traded down 0.94 percent to 16,485.94 while the NASDAQ declined 1.31 percent to 4,765.20. The S&P also fell, dropping 1.08 percent to 1,967.44.
Leading and Lagging Sectors
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In trading on Monday, energy shares climbed by 0.48 percent. Meanwhile, top gainers in the sector included Arch Coal Inc (NYSE: ACI), up 20 percent, and Whiting Petroleum Corp (NYSE: WLL), up 11 percent.
Utilities shares dipped by 1.70 percent in Monday’s trading. Meanwhile, top losers in the sector included Companhia Energetica Minas Gerais (ADR) (NYSE: CIG), down 7 percent, and Companhia Paranaense de Energia (ADR) (NYSE: ELP), off 4 percent.
Top Headline
Blyth, Inc. (NYSE: BTH) agreed to be acquired by The Carlyle Group LP (NASDAQ: CG) for $98 million.
Carlyle Group will pay 6.00 per share for Blyth, representing a premium of around 105 percent to Blyth’s closing price on Friday.
Equities Trading UP
The Medicines Company (NASDAQ: MDCO) shares shot up 18 percent to $39.84 following the announcement of positive ALN-PCSsc study results.
Shares of Blyth, Inc. (NYSE: BTH) got a boost, shooting up 104 percent to $5.95 after the company agreed to be acquired by The Carlyle Group LP (NASDAQ: CG) for $6.00 per share, or $98 million.
J C Penney Company Inc (NYSE: JCP) shares were also up, gaining 4 percent to $9.27. Deutsche Bank upgraded JC Penney from Hold to Buy and raised the price target from $10.00 to $12.00.
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Equities Trading DOWN
ConforMIS Inc (NASDAQ: CFMS) shares tumbled 19 percent to $16.03 after the company lowered its FY15 revenue outlook. ConforMIS also reported that it has begun a voluntary recall of specific serial numbers of patient-specific instrumentation for the iUni, iDuo and iTotal systems.
Shares of Ariad Pharmaceuticals, Inc. (NASDAQ: ARIA) were down 7 percent to $9.23. Ariad Pharmaceuticals shares jumped 41.69 percent Friday, on a report from the Boston Globe that the biotech company was in talks to sell itself to Baxalta Inc (NYSE: BXLT), according to sources.
IAMGOLD Corp (USA) (NYSE: IAG) was down, falling 4 percent to $1.64.
Commodities
In commodity news, oil traded up 8.12 percent to $48.89, while gold traded up 0.01 percent to $1,134.10.
Silver traded up 0.76 percent Monday to $14.66, while copper fell 0.21 percent to $2.34.
Euro zone
European shares closed lower today. The eurozone’s STOXX 600 declined 0.13 percent, the Spanish Ibex Index fell 0.91 percent, while Italy’s FTSE MIB Index dropped 0.24 percent. Meanwhile, the German DAX slipped 0.38 percent, and the French CAC 40 dropped 0.47 percent.
Economics
The Chicago PMI declined to a reading of 54.4 in August, versus a reading of 54.7 in July. Economists were expecting a reading of 54.7.
The Dallas Fed manufacturing business index dipped to a reading of -15.80 in August, versus a prior reading of -4.60. However, economists were expecting a reading of -2.50.
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.