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.
Competition is always tough, especially for students looking to enter the job market. There is no clearer example of this than the number of students looking to kick-start their career at one of, if not the, most prestigious Wall Street firms - Goldman Sachs Group Inc (NYSE: GS).
According to CNBC, more than 250,000 students and recent graduates submitted an application to work at Goldman Sachs this summer. For its part, the company does not have comparable application figures dating back before the 2008 financial crisis. However, undergraduate applications are higher by 46 percent since 2012, and MBA holders who applied for a job are higher by 15 percent.
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CNBC noted there are other banks seeing elevated levels of job applications as firms continue to improve the work culture and offer a more balanced work-life structure. For example, several other major Wall Street banks now offer their bankers more time off for personal matters, a work-free Friday evening and sabbaticals.
"They are trying to replicate the Google model," Bernie Toole, head of the investment banking unit at recruitment group Selby Jennings told the Wall Street Journal. "Before they used to churn analysts, now they are trying to attract and retain them by introducing a more positive culture, with perks and more flexible working practices."
Tough Market Across Wall Street
JPMorgan Chase & Co. (NYSE: JPM) acknowledged applications for investment banking jobs by recent graduates has risen by 40 percent since 2014.
Morgan Stanley (NYSE: MS) said its North American investment banking division attracts around 8,000 applications, which marks an increase from at least 6,000 it received in 2006–2007. However, all these applications are competing against each other for just more than 100 jobs.
Finally, Bank of America Corp (NYSE: BAC) told the Wall Street Journal that it offers a position to only 3 percent of applicants and among those, 90 percent end up accepting the offer.
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.