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.
Denbury Resources Inc. (NYSE: DNR) shares are trading higher by $0.15 (4.5 percent) at $3.32 in Wednesday's session. Investors are following the lead of COO Chris Kendall who has purchased 155,000 shares.
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 move has instigated a higher open ($3.32 vs. Wednesday's close of $3.17), but the issue so far has only traded in a $0.07 range ($3.27 to $3.34).
The reason for this being is the issue is now at a key resistance area. Over the last four sessions, the issue has topped out between $3.33 and $3.38. If the rally can continue, one other minor resistance area may be at its September 8 high ($3.48). Beyond that level rests a pair of highs from July 12 ($3.74) and July 13 ($3.73).