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.
S&P Global Inc (NYSE: SPGI)'s S&P Global Market Intelligence recently released a list of the top-paid executives in U.S. banking.
The highest paid CEOs and money managers usually work for big, well-known companies. However, in the banking industry, this doesn't seem to be the case. In fact, the CEO with the highest compensation in the segment works for a smid-cap bank many readers may have never heard of: Investors Bancorp, Inc. (NASDAQ: ISBC).
Related Link: CEOs Vs. Hedge Fund Managers: Who Gets Paid Better?
Kevin Cummings, Investors Bancorp CEO, took the largest pay among his peers in 2015. Last year, Cummings received a $20 million paycheck, 3.5 percent more than Wells Fargo & Co (NYSE: WFC) CEO John Stumpf, who got $19.3 million.
So how could a $3.4 billion market cap bank pay its CEO more than a $230 billion market cap company? It seems like 2015 was a special year for Investors Bancorp. The company transitioned from a mutually held bank to a fully public company that saw its stock surge by 11 percent. Consequently, Cummings got a fat bonus, which helped him out-earn Stumpf.
The third place in this list was occupied by JPMorgan Chase & Co. (NYSE: JPM) CEO, James Dimon, who got $18.22 million in compensation in 2015. Completing the top 10 were:
- Richard Fairbank of Capital One Financial Corp. (NYSE: COF), with $18.01 million.
- Michael Corbat, of Citigroup Inc (NYSE: C), with $14.60 million.
- Brian Moynihan, of Bank of America Corp (NYSE: BAC), with $13.72 million.
- Gerald Hassell, of Bank of New York Mellon Corp (NYSE: BK), with $13.48 million.
- Alessandro DiNello, of Flagstar Bancorp Inc (NYSE: FBC), with $13.02 million.
- Frederick Waddell, of Northern Trust Corporation (NASDAQ: NTRS), with $12.76 million.
- William Demchak, of PNC Financial Services Group Inc (NYSE: PNC), with $12.33 million.
The chart below illustrates the total adjusted compensation of bank CEOs in 2015.
Source: SNL Financial, MarketWatch
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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