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.
Below is a tool used by the Benzinga News Desk each trading day -- it's a look at everything happening in the market, in five minutes. Apply for daily AM access by clicking here or email minutes@benzinga.com.
Macro Focus
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U.S. stock futures traded lower in early pre-market trade. Futures for the Dow Jones Industrial Average dropped 69 points to 17,800.00, while the Standard & Poor’s 500 index futures fell 9 points to 2,087.50. Futures for the Nasdaq 100 index declined 20 points to 4,414.00.
Oil prices traded lower as Brent crude futures declined 2.02 percent to trade at $49.09 per barrel, while US WTI crude futures also fell 2.39 percent to trade at $47.82 a barrel.
Eurozone retail sales increased 0.4 percent in May from April.
The British pound traded at a new post-Brexit low on Tuesday after the country's central bank stepped in to help support the now fragile economy and uncertain outlook. The Bank of England said it will lower the amount of capital that the country's banks are required to hold in reserve. The move is expected to free 150 billion pounds (approximately $198 billion), which can now be allocated toward lending.
BZ News Desk Focus
Walgreens Boots Alliance (NASDAQ: WBA)’s Q3 report is due out on Wednesday. The pharmacy retailer is expected to deliver earnings of $1.14 per share on revenue of $29.7 billion, compared with earnings of $1.02 per share on revenue of $28.8 billion for the same quarter last year.
With the new sugar tax fresh on investors’ minds, PepsiCo (NYSE: PEP) will announce second quarter results on Thursday. Analysts estimate earnings of $1.29 per share, down from $1.32 in the same period last year. Revenues are expected to fall about $600 million year-over-year to $15.37 billion.
Traders and investors should anticipate a low volume trading week.
Sell-Side Themes
Following its quiet period, analysts started coverage on Atkore International (NYSE: ATKR). Most the Street set Buy or Outperform ratings.
Sell-Side's Most Noteworthy Calls
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Morgan Stanley downgraded Illumina (NASDAQ: ILMN) to Underweight.
Needham downgraded Netflix (NASDAQ: NFLX) to Hold.
Argus downgraded Hershey (NYSE: HSY) to Hold.
Barclays upgraded CyberArk (NASDAQ: CYBR) to Overweight.
Morgan Stanley upgraded KeyCorp (NYSE: KEY) to Overweight.
Goldman Sachs initiated coverage on Equinix (NASDAQ: EQIX) at Buy.
Deal Talk
Shares of Harley-Davidson (NYSE: HOG) surged higher Friday, after Benzinga reported chatter of a potential takeover offer from KKR (NYSE: KKR). Harley-Davidson later issued a statement, saying they would not comment on market rumors and speculation. Raymond James said a KKR purchase of Harley-Davidson is unlikely.
Thor Industries (NYSE: THO) acquired Jayco, Corp. for approximately $576 million in cash.
Honeywell (NYSE: HON) announced it signed an agreement to acquire Intelligrated for $1.5 billion from a company backed by the Permira funds. The acquisition of the privately-held supply chain and warehouse automation company is expected to close by the end of Q3.
In The News
Rio de Janeiro's Olympic Games are off to a disastrous start. The latest news? Violence is on the rise and police officers are at loggerheads with the government after claiming they've not been paid for months. The message from police to tourists: We won't be able to protect you.
Tesla (NASDAQ: TSLA) delivered 14,370 vehicles during the second quarter, missing its target of 17,000 vehicles. Tesla is on track to fall short of its annual target, suggesting the U.S. electric car maker is still wrestling with production issues as it looks to transform itself into a mainstream, high-volume manufacturer.
Blogosphere
Need a money manager? Looking for a change? Don't get blinded with past performance, says Ben Carlson.
After a $692 million investment announced more than two years ago, Alibaba (NYSE: BABA) has just become the largest shareholder in Intime Retail, a Chinese shopping-mall and department store operator. According to Gadfly's Tim Culpan and Chris Langner, Jack Ma's flagship company's plans for online-to-offline commerce are going off track.
Trending
NFLX INSY QQQ ILMN TLT DGAZ HIMX CYBR PEG JNJ TSLA DHR PUK HOG [Stocktwits]
The NBA free agency period saw some huge contracts dished out. There was none more impactful than Kevin Durant's 2 year, $53 million deal with the Golden State Warriors, leaving the Oklahoma City Thunder after nine years and creating a video game super-team out west.
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.