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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U.S. stock futures traded higher in early pre-market trade. Data on initial jobless claims for the latest week, and import and export prices for July will be released at 8:30 a.m. ET.
Futures for the Dow Jones Industrial Average climbed 48 points to 18,500.00, while the Standard & Poor’s 500 index futures gained 4.50 points to 2,177.25. Futures for the Nasdaq 100 index rose 12.25 points to 4,793.75.
Oil prices traded higher as Brent crude futures gained 0.43 percent to trade at $44.19 per barrel, while US WTI crude futures also rose 0.05 percent to trade at $41.73 a barrel. The Energy Information Administration’s weekly report on natural gas stocks is schedule for release at 10:30 a.m. ET.
A Peek Into Global Markets
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European markets were mostly higher today, with the Spanish Ibex Index rising 0.29 percent, STOXX Europe 600 Index gaining 0.36 percent and German DAX 30 index gaining 0.61 percent. The UK's FTSE index was trading lower by 0.32 percent, while French CAC 40 Index climbed 0.72 percent. French consumer price index declined 0.4 percent in July versus June.
In Asian markets, Hong Kong’s Hang Seng Index rose 0.39 percent, China’s Shanghai Composite Index declined 0.53 percent and India’s BSE Sensex rose 0.31 percent.
Broker Recommendation
Analysts at Berenberg downgraded Bristol-Myers Squibb Co (NYSE: BMY) from Buy to Hold and lowered the price target from $80.00 to $70.00.
Bristol-Myers Squibb shares rose 0.20 percent to $60.70 in pre-market trading.
Breaking news
- Alibaba Group Holding Ltd (NYSE: BABA) followed another Chinese firm - JD.Com Inc (NYSE: JD) - to report better than estimated results for the first quarter. Alibaba reported non-GAAP EPS of $0.74 representing 33 percent year-over-year growth. This was $0.11 a share higher than the Street estimate of $0.63. In local currency its adjusted EPS was RMB 4.90. To read the full news, click here.
- Just as things were starting to look up for bruised and battered Valeant Pharmaceuticals Intl Inc (NYSE: VRX), another round of bad news sent the stock plummeting in Wednesday's after-hours session. The Wall Street Journal reported an ongoing criminal probe focused on the company's relationship with a closely linked mail-order-pharmacy named Philidor RX Services LLC. The investigation is being run out of the Manhattan U.S. Attorney's office. To read the full news, click here.
- Himax Technologies, Inc. (NASDAQ: HIMX) disclosed its earnings doubled on a year-over-year basis and topped the Street estimate. The company reported net income of $19.8 million or 11.5 cents per ADS representing 124 percent year-over-year and 51.2 percent quarter-over-quarter growth. Its EPS not only topped its own guidance but also the Street estimate of $0.10. To read the full news, click here.
- Kohl's Corporation (NYSE: KSS) released its Q2 results before the open on Thursday. Earnings per share came in above Wall Street consensus expectations, sending shares higher. To read the full news, click here.
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.