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.
- The Brazilian Real had an interesting week, to say the least.
- The currency hit an all time low on Tuesday, and beat the record again on Wednesday. It then started to recuperate on Thursday and early Friday.
- However, the bills are once again losing value on Friday afternoon.
The Brazilian Real is once again losing value on Friday afternoon. The currency is down 0.75 percent to 0.2521 U.S. Dollars (which means one U.S. Dolar is worth 3.964 Reais), after a volatile week.
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!
On Tuesday, the currency hit a historic low below 4 reais per U.S. Dollar, driven by the political turmoil in Brazil, the generally bad economic environment, and the S&P downgrade, among other factors. On Wednesday, the notes pushed the boundaries again, establishing a new all time low of 4.2447 reais to the dollar.
Related Link: Latin American ADRs Getting Slaughtered, Brazilian Real And Crude Continue To Tumble
For the first time in more than a week, the Real strengthened on Thursday, after the president of the Central Bank implied he would be willing to use Brazil’s foreign reserves to preserve the currency’s value. The Real closed at 3.9366 on Thursday afternoon.
Also driving the surge was Central Bank’s auction of currency-swap contracts, which “allow local businesses to hedge against the weakening real,” a MarketWatch article explains.
On Friday morning, the Real continued to rally. However, in the afternoon hours, it lost all of the ground gained during the morning, and is now down roughly 0.75 percent.
Other Decliners
FREE REPORT: How To Learn Options Trading Fast
In this special report, you will learn the four best strategies for trading options, how to stay safe as a complete beginner, a 411% trade case study, PLUS how to access two new potential winning options trades starting today.Claim Your Free Report Here.
The Sao Paulo Stock Exchange is also down on Friday afternoon. The Bovespa index fell more than 1.1 percent over the session, to 44,780.12 points. Over the past five days, the index fell almost 5.3 percent.
Many major Brazilian stocks are also tumbled on Friday:
State-owned Petroleo Brasileiro SA - Petrobras (ADR) (NYSE: PBR) lost 0.36 percent
Vale SA (ADR) (NYSE: VALE)fell more than 3.2 percent
Gol Linhas Aereas Inteligentes SA (ADR) (NYSE: GOL) declined over 3.6 percent
Banco Bradesco SA (ADR) (NYSE: BBD)tumbled about 2 percent
Itau Unibanco Holding SA (ADR)(NYSE: ITUB) plunged about 1.7 percent
Disclosure: Javier Hasse holds no positions in any of the securities mentioned above.
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.