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.
Midway through trading Tuesday, the Dow traded down 0.33 percent to 18,163.48 while the NASDAQ declined 0.51 percent to 5,282.76. The S&P also fell, dropping 0.38 percent to 2,143.05.
ENTER TO WIN $500 IN STOCK OR CRYPTO
Enter your email and you'll also get Benzinga's ultimate morning update AND a free $30 gift card and more!
Leading and Lagging Sectors
On Tuesday, Non-cyclical consumer goods & services shares gained by 0.56 percent.
In trading on Tuesday, cyclical consumer goods & services shares fell by 1.04 percent. Meanwhile, top losers in the sector included Sonic Corporation (NASDAQ: SONC), down 19 percent, and Under Armour Inc (NYSE: UA), down 14 percent.
Top Headline
General Motors Company (NYSE: GM) reported stronger-than-expected earnings for the third quarter on Tuesday.
GM’s net income climbed to $2.8 billion, or $1.76 per share in the latest quarter. Excluding items, the company earned $1.72 per share, beating analysts' estimates of $1.45 per share.
Its revenue increased 10 percent to $42.8 billion in the quarter, beating estimates by $3.51 billion.
Equities Trading UP
SAExploration Holdings, Inc. (NASDAQ: SAEX) shares shot up 16 percent to $8.68 after the company announced the receipt of $24.4 million Alaskan tax credit certificates.
Shares of Clayton Williams Energy, Inc. (NYSE: CWEI) got a boost, shooting up 22 percent to $90.50 after the company announced an agreement to sell Giddings Area assets for $400 million and named Patrick Cooke as COO.
Global Blood Therapeutics Inc (NASDAQ: GBT) shares were also up, gaining 14 percent to $20.25 following a pair of news items announced in a company press release. The company has reached an agreement with the FDA regarding the design of its pivotal trial for GBT440 in adults and adolescents with sickle cell disease. The company announced in an SEC filing that the company's Chief Medical Officer, Eleanor Ramos, will retire, effective today.
Equities Trading DOWN
Dipexium Pharmaceuticals Inc (NASDAQ: DPRX) shares dropped 80 percent to $2.60 after the company disclosed that top-line data from OneStep Phase 3 trials of Locilex failed to meet the primary endpoint.
FREE REPORT: How To Learn Options Trading Fast
In this special report, you will learn the four best strategies for trading options, how to stay safe as a complete beginner, a 411% trade case study, PLUS how to access two new potential winning options trades starting today.Claim Your Free Report Here.
Shares of FuelCell Energy Inc (NASDAQ: FCEL) were down 29 percent to $3.67 after the company disclosed that CT Energy & Technology was not selected for contract negotiations under RFP. Roth Capital downgraded FuelCell Energy from Buy to Neutral and lowered the price target from $7.50 to $4.00.
Sonic Corporation (NASDAQ: SONC) was down, falling around 19 percent to $21.60. Sonic reported upbeat earnings for its fourth quarter, but revenue missed expectations.
Commodities
In commodity news, oil traded down 1.13 percent to $49.95 while gold traded up 0.79 percent to $1,273.70.
Silver traded up 1.03 percent Tuesday to $17.79, while copper rose 2.22 percent to $2.14.
Eurozone
European shares were mostly lower today. The eurozone’s STOXX 600 slipped 0.35 percent, the Spanish Ibex Index fell 0.83 percent, while Italy’s FTSE MIB Index dropped 0.44 percent. Meanwhile the German DAX slipped 0.04 percent, and the French CAC 40 dropped 0.26 percent while U.K. shares rose 0.45 percent.
Economics
The Johnson Redbook Retail Sales Index declined 0.1 percent during the first three weeks of October versus September.
The S&P Corelogic Case-Shiller home price index gained 0.4 percent in August. However, economists were expecting a 0.2 percent monthly growth.
The Conference Board’s consumer confidence index declined to 98.60 in October, versus economists’ estimates for a reading of 101.00.
The Richmond Fed manufacturing index rose to a reading of -4.00 in October, versus a prior reading of -8.00. Economists expected a reading of -5.00.
The Treasury will also auction 2-year notes at 1:00 p.m. ET.
Atlanta Federal Reserve Bank President Dennis Lockhart is set to speak in Atlanta at 1:20 p.m. ET.
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.