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.
Capital One has upgraded Newpark Resources Inc (NYSE: NR) to Overweight from Equal Weight on improved fundamentals, primarily the removal of balance sheet concerns.
"We moved the name higher in our relative bias index a couple of weeks ago given the aforementioned removal of balance sheet concerns and that it continues to slot in the top tier of our group in terms of growth potential looking into '18 (combination of NAm onshore recovery off the bottom, continued EMEA growth, and assumed GoM deepwater share gains kicking in)," Joseph Gibney wrote in a note.
ENTER TO WIN $500 IN STOCK OR CRYPTO
Enter your email and you'll also get Benzinga's ultimate morning update AND a free $30 gift card and more!
"Even though it bounced w/ smid-cap, it still offers some modicum of upside in a group where that is increasingly challenging," Gibney added.
The analyst adjusted his 2016/'17/'18 EPS view to ($0.50)/($0.11)/$0.18 from ($0.52)/($0.22)/$0.11.
The analyst noted that the new revolver credit facility "has helped lift prior lingering balance sheet perception overhang with the removal of the consolidated leverage ratio covenant concerns."
"Referencing GoM growth typically draws out a heap of negative investor sentiment, but keep in mind the negligible revenue base NR is coming off of here w/ potential Fourchon related ramp still material even if the market is smaller," Gibney added.
At the time of writing, shares of Newpark Resources rose 3.09 percent to $5.51. Gibney also raised the target price to $6 from $5.
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.