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 Polycom Inc (NASDAQ: PLCM) surged higher by more than 8 percent Wednesday morning following a Bloomberg report the company is an acquisition target.
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According to Bloomberg's sources, Mitel Networks Corp (NASDAQ: MITL) is in advanced merger talks with Polycom in a deal that could value the company at around $1.7 billion, or around $12.50 per share.
Shares of Polycom closed for trading at $10.84 on Tuesday.
Activist investor Elliott Management holds a $100 million stake in both companies and have urged them to merge amid competitive pressure from larger peers such as Huawei Technology.
Related Link: UPDATE: Elliott Mgmt Sends Letter to Polycom Board Urging Tie-Up with Mitel Networks
The activist investor delivered a letter to Polycom's Board of Directors back in October, 2015 and argued "an industry consolidation strategy should be evaluated and is likely the best path forward."
"Mitel has a very capable management team led by CEO Rich McBee and CFO Steve Spooner, has engaged in successful M&A and offers valuable tax benefits to a new combined company," Elliott Management added in its letter. "We believe that the ideal Consolidation Strategy begins with a Polycom/Mitel combination, whether those companies stay public or go private."
Shares of Mitel were trading higher by 2.2 percent after Wednesday's market open.
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.