March 28, 2016 10:23 AM | 1 min read |
Shares of
Starwood Hotels & Resorts Worldwide Inc
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.
(NYSE: HOT) were trading higher by more than 2 percent after Monday's market open as the company
updated its investors over an ongoing bidding war.On March 26, Starwood received a non-binding proposal from a consortium of investors, including Anbang Insurance Group, to acquire all of its outstanding shares for $81.00 per share in cash. The company added that it commenced discussions with the consortium which went on to revise its proposal to $82.75 per share in cash.The consortium's revised offer represents an increase of $4.75 per share from its non binding proposal on March 18.Starwood added that the new proposal is "reasonably likely to lead to a "Superior Proposal" as defined in Starwood's merger agreement with >b>Marriott International, Inc. (NASDAQ: MAR)Marriott has previously offered to acquire Starwood in a cash-and-stock deal that values its stock at $85.36.Starwood noted in its press release that its "Board has not changed its recommendation in support of Starwood's merger with Marriott." In the meantime, Starwood will continue "evaluating the best course of action that is in the best interest of Starwood and its stockholders."Shares of Marriott spiked higher by nearly 5 percent following Starwood's announcement.
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.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.