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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The latest development is "just another in a series of missteps" that have weighed on the stock over the past couple years, according to Barclays analyst Mark DeVries.
"We think these continued missteps, combined with a market that has shown ambivalence toward owning auto lenders at this stage in the cycle, will result in SC's multiple being heavily discounted for the foreseeable future, despite the strong returns of the business and a valuation that already appears to be priced for a recession," DeVries said.
DeVries also cut price target to $10 from a previous $15, saying concerns over a potential recession will likely continue weighing on the stock, despite an adequate reserve for higher credit losses. Furthermore, it could remain profitable through such stressed environments.
Additionally, the analyst said the probability of parent company SHUSA buying Santander any time soon appears low "as SHUSA may be precluded from purchasing the public float until it passes CCAR, which it recently failed for the third consecutive year."
At time of writing, shares of Santander were up 1.44 percent on the day to $11.30.
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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.