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.
Shares of Caesars Entertainment Corp (NASDAQ: CZR) were down as much as 20 percent early Monday after a court ruling leaves the company exposed to $11 billion in legal claims. On Friday, a U.S. judge ruled that Caesars Entertainment Operating Corp (CEOC) con no longer protect parent company Caesars Entertainment Corp from lawsuits concerning CEOC bond debt issued prior to its Chapter 11 bankruptcy in January 2015.
The current injunction on the lawsuits expired on Monday, leaving Caesars Entertainment Corp and its shareholders at risk. Company management has said that the lawsuits would put the $923 million company at risk of bankruptcy, sending shares plummeting.
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Caesars and private equity backers Apollo Global Management LLC (NYSE: APO) and TPG Capital have denied any wrongdoing in the handling of properties like the LINQ Hotel & Casino in Las Vegas prior to the CEOC bankruptcy. CEOC bondholders now want to force Caesars Entertainment Corp to make good on $11 billion in CEOC debt.
One critical lawsuit ruling could come as soon as Tuesday when Manhattan federal Judge Jed Rakoff decides whether or not CEOC guarantees should be reinstated. Caesars is expected to file an emergency appeal on Monday to delay that decision.
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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