May 5, 2016 7:42 AM | 2 min read |
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.
Tandy Leather Factory, Inc. (NASDAQ: TLF) reported today that sales for the month of April were $7.3 million, down 3% compared to April 2015 sales of $7.5 million. Year to date sales were $28.1 million, down 1% compared to sales of $28.4 million in the same period last year.Retail Leathercraft's sales decreased 1% to $4.6 million compared to April 2015 sales of $4.7 million. The 81 comparable stores' sales were down 2% for the month compared to the same period last year and the one new store opened in 2016 added April sales of $94,000. One store was closed in March. Year-to-date sales for Retail Leathercraft are $18.0 million this year, up 0.5% from 2015 sales of $17.9 million. As of the end of March, the 81 comparable stores' sales decreased 0.3% from comparable sales for the same period in 2015. Wholesale Leathercraft posted sales of $2.3 million for April, down 8% from April 2015 sales of $2.5 million. The 28 same stores' sales were down 8% for the month. For the year to date, Wholesale Leathercraft sales are $8.8 million, decreasing 5% from sales of $9.2 million for the same period a year ago. As of the end of April, same store sales were down 4% compared to the same period of 2015. International Leathercraft reported April sales of $346,000, up 9% compared to April 2015 sales of $319,000. Same store sales were down 10%, with the one new store opened in October 2015 adding April sales of $59,000. For the year to date, International Leathercraft sales were $1.3 million, matching that of the same period in 2015. As of the end of April, the 3 comparable stores' sales were down 16% compared to sales reported for the same period in 2015. Interim Chief Executive Officer, Shannon L. Greene, commented, "The retail environment continues to be a challenge. Our internal analysis suggests that consumers are very selective in their spending, and even more so when it comes to discretionary spending. That translates into tepid sales for us as is evident in our April sales."Mark Angus, Interim President, added, "Our focus for now is to maintain margins despite the weak sales environment. We are having some success in that our gross profit margins have improved year over year."
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.
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