August 4, 2016 8:46 AM | 1 min read |
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.
MGM Resorts International (NYSE: MGM) reported mixed bag of results for the second quarter. While earnings topped estimate, revenue missed thus making the shares to trade volatile in the pre-market trading on Thursday.The resort firm's net income attributable to its shareholders jumped to $474.35 million or $0.83 a share from $97.46 million or $0.17 a share in the year-ago period thanks to $0.57 a share gain on CityCenter's sale of The Shops at Crystals. Excluding the gain, it would have earned $0.26 a share, which was $0.04 a share higher than the Street estimate of $0.23.MGM's revenue fell to $2.27 billion from $2.39 billion in the previous year period and came below the analysts' predictions of $2.33 billion.Its chairman and CEO, Jim Murren, commented on the results saying, "Our Profit Growth Plan drove our domestic resorts Adjusted Property EBITDA to grow an impressive 12% and Adjusted Property EBITDA margins to improve by over 350 basis points, despite a record-breaking May last year."At the time of writing, shares of the company traded down by $0.78, or 3.28 percent, to $23.00 in the pre-market trading on Thursday.
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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