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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Analyst Timna Tanners has cut the rating of Nucor shares to Neutral from Buy on the steel price outlook, cautious long product views and valuation. However, Tanners maintains a $56 price objective on Nucor shares.
Tanners also downgraded Steel Dynamics to Neutral from Buy after a strong rise in share prices on the view that steel prices have run out of steam. The analyst also cut the price target on the stock by $1 to $28.
"Q2 results were a beat, but the outlook was softer than expected and we lowered estimates and see consensus at risk. We continue to like STLD on a relative basis, but expect discounted import tons to pressure sheet steel markets into Q4," Tanners wrote in a note.
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Tanners slashed 2016 EPS forecast to $1.90 from $2.00, compared with consensus of $2.13, and third-quarter EPS view fell to $0.57 from $0.66 versus consensus at $0.72.
Aluminum Outlook Likewise Murky
Meanwhile, analyst PT Luther has downgraded Kaiser Aluminum Corp. (NASDAQ: KALU) to Neutral from Buy on cloudier aerospace outlook.
"We downgrade KALU to Neutral on our view that key aero and auto end markets are in the latter stages of prolonged upcycles," Luther noted.
The analyst, who also pointed to typically slower second half, cut 2017 EBITDA estimate to $207 million from $213 million. The analyst also lowered 2017–18 EPS estimates to $6.00/$6.40 from $6.20/$7.00.
Luther also trimmed price objective on Kaiser shares by $2 to $92.
At Time Of Writing...
- Kaiser closed Wednesday trading down 3.64 percent at $85.57 and showed no trades in Thursday's pre-market.
- Nucor closed Wednesday down 2.91 percent at $54.09.
- Steel Dynamics closed down 1.45 percent at $26.46.
None of the three showed any trades in Thursday's pre-market.
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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.