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.
Mobileye NV (NASDAQ: MBLY) shares were trading lower by $2.80 (5.7 percent) at $49.81 in Wednesday's session. The firm is being targeted by well-known short-selling firm Citron Research.
Earlier Wednesday in a tweet, the firm "sets short term target on $MBLY at $25....just follow the money. Citron exposes the real Mobileye. Worse than $amba."
The issue, which had already been in decline after a higher open, swooned to $48.97 before staging a rebound into the $50 handle and retreating once again.
Mobileye had been a stellar performer this year, rallying from year-end close of $49.56 to $64.48 earlier this month before being dragged down with the rest of the market. Its only reference point beneath today's low and that would be is Flash Crash low of $41.80.
It should be noted Citron Research has made some exceptional calls in the past. The most recent being Ambarella (NASDAQ: AMBA), the component maker for GoPro Inc. (NASDAQ: GPRO), when it was trading near the $120 level.
The firm revealed in a tweet on September 3 that it was covering its short position in Ambarella. On that day, shares fell from its previous day close of $81.98 to $73.15 one day after issuing weak guidance for Q3.
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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