April 6, 2016 9:49 AM | 2 min read |
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.
Following the market opening Wednesday, the Dow traded down 0.21 percent to 17,566.62 while the NASDAQ gained 0.19 percent to 4,853.17. The S&P also fell, dropping 0.08 percent to 2,043.64.
Leading and Lagging SectorsOn Wednesday, healthcare shares gained by 0.79 percent. Meanwhile, top gainers in the sector included
Infinity Pharmaceuticals Inc. (NASDAQ: INFI), up 9 percent, and
Sarepta Therapeutics Inc (NASDAQ: SRPT), up 4 percent. In trading on Wednesday, basic materials shares tumbled by 0.24 percent. Meanwhile, top losers in the sector included
Schnitzer Steel Industries, Inc. (NASDAQ: SCHN), down 7 percent, and
Compania de Minas Buenaventura SAA (ADR) (NYSE: BVN), down 2 percent.
Top Headline Monsanto Company (NYSE: MON) reported weaker-than-expected results for its fiscal second quarter.Monsanto posted quarterly net income of $1.06 billion, or $2.41 per share, compared to $1.43 billion, or $2.92 per share, in the year-ago period. Its earnings per share from ongoing business came in at $2.42.Its total net sales declined 12.8 percent $4.53 billion. However, analysts were expecting earnings of $2.44 per share on revenue of $4.76 billion.Looking forward to the full year fiscal 2016, Monsanto confirmed its fiscal 2016 ongoing earnings per share outlook of $4.40 to $5.10 per share versus Wall Street's expectations of $4.65 per share.
Equities Trading UP Momo Inc (ADR) (NASDAQ: MOMO) shares shot up 21 percent to $14.51. Tang Yan reported a 25.9 percent stake in Momo.Shares of
Tokai Pharmaceuticals Inc (NASDAQ: TKAI) got a boost, shooting up 15 percent to $6.74. Bank of America initiated coverage on Tokai Pharmaceuticals with a Buy rating.
OMNOVA Solutions Inc. (NYSE: OMN) shares were also up, gaining 21 percent to 6.52 after the company reported better-than-expected Q1 earnings.
Equities Trading DOWN Cree, Inc. (NASDAQ: CREE) shares dropped 16 percent to $24.33 after the company issued a weak outlook for the third quarter.Shares of
Supercom Ltd (NASDAQ: SPCB) were down 14 percent to $3.60 as the company reported the postponement of its Q4 and full year earnings release to April 11, 2016.
Jernigan Capital Inc (NYSE: JCAP) was down, falling around 10 percent to $13.00. Wunderlich downgraded Jernigan Capital from Hold to Sell.
CommoditiesIn commodity news, oil traded up 2.09 percent to $36.64 while gold traded down 0.76 percent to $1,220.30. Silver traded down 1.16 percent Wednesday to $14.94, while copper fell 0.26 percent to $2.13.
EurozoneEuropean shares were mixed today. The eurozone's STOXX 600 rose 0.16 percent, the Spanish Ibex Index fell 0.03 percent, while Italy's FTSE MIB Index gained 0.45 percent. Meanwhile, the German DAX dropped 0.25 percent, and the French CAC 40 gained 0.28 percent, while U.K. shares fell 0.64 percent.
EconomicsThe Federal Open Market Committee will issue minutes of its meeting at 2:00 p.m. ET.
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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