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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Overall, the tone of the earnings has been bullish. Last Friday, following the release of quarterly results from Citi, JPMorgan and Wells Fargo, the Financial Select Sector SPDR Fund (NYSE: XLF) rose 0.47 percent after rising as much as 1.50 percent intra-day.
How The 4 Fared On Earnings
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Citi's earnings per share fell 8.15 percent year-over-year to $1.24, and JPMorgan's declined 5.95 percent to $1.58 per share compared to a more modest 1.91 percent drop to $1.03 for scandal-tainted Wells Fargo.
Meanwhile, Bank of America stood tall and towering with 7.90 percent earnings per share growth, marking the first increase in three quarters.
EPS Upside (in %) Vs. Estimates
- Bank of America: 24.24 percent.
- Citi: 6.90 percent.
- JPMorgan: 13.67 percent.
- Wells Fargo: 1.98 percent.
Revenues Across The Big 4
- Bank of America's revenues grew 2.86 percent to $21.6 billion and exceeded estimates by 3.15 percent.
- Citi's revenues declined 4.81 percent to $17.8 billion, but beat estimates by 2.65 percent.
- JPMorgan reported a 8.37 percent increase in its managed net revenues to $23.54 billion, with revenues exceeding estimates by roughly 2 percent.
- Revenues at Wells Fargo rose 2.06 percent to $22.33 billion, 0.50 percent ahead of the consensus estimate of $22.22 billion.
Standout Segments
- Bank of America's fixed income trading revenues rose a strong 32 percent, propping up sales and trading revenues by 14 percent.
- Citi's fixed income market revenues climbed 35 percent.
- JPMorgan's fixed income markets revenues surged up 48 percent, helping a 33 percent upside in markets revenue.
- Wells Fargo saw a small increase in net interest income, as loans and deposits grew 7 and 5 percent, respectively.
At Last Check ...
- Bank of America shares were slightly up (0.25 percent) at $16.04.
- Citi was flat at $48.62.
- JPMorgan was down 0.73 percent at $67.04.
- Wells Fargo & Co was down 0.67 percent at $44.41.
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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.