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.
- Shares of nano cap independent oil and gas company Lucas Energy, Inc. (NYSE: LEI) were trading up more than 345 percent on Thursday afternoon.
- The surge was triggered by the announcement of an agreement to purchase “working interests in producing properties and undeveloped acreage” from 21 different entities, a press release read. The company noted that the assets being acquired include "two largely contiguous acreage blocks in the liquids-rich Mid-Continent region."
- Benzinga contacted stock trader, entrepreneur, and penny stock expert Tim Sykes for comment. Below are his views on the issue.
Shares of nano cap Lucas Enery spiked on Thursday trading, after the company announced the acquisition and development of crude oil and natural gas assets in various geological formations.
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Related Link: Shares Of Lucas Energy Are Having An Insane Day: Here's Why
Benzinga contacted Tim Sykes for comment. The expert assured “this is a classic case of thin holiday trading and LEI is the low float play du jour, over-aggressive short sellers got squeezed,” similar to what happened at KaloBios Pharmaceuticals Inc (NASDAQ: KBIO).
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“For me, it's a potential short as it'll likely continue fading into next week as I had a nice timestamped chatroom call to all longs at $10ish.”
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.