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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Diana Shipping reported a third-quarter loss of $0.35 per share on revenue of $27.1 million. Wall Street analysts were expecting the company to lose $0.41 per share on revenue of $28.06 million.
Reiterate Sell Rating
Spiro Dounis of UBS maintains a Sell rating on Diana Shipping with an unchanged $1.25 price target following the earnings report, noting that the company's outlook remains "unclear."
Dounis noted Diana Shipping terminated discussions held with lenders regarding amendments of outstanding loan facilities after reaching an agreement with lenders in August. The analyst added the company didn't provide any updates in its earnings report, but the company made its "more aggressive approach to negotiations known last quarter."
Ultimately, Path Forward Is Unclear
Dounis continued that Diana Shipping's management does not expect to sit back down at the negotiating table with lenders. The company does have $108 million in cash which gives it some "room to ride the downturn." Nevertheless, the path forward for the company remains uncertain and a scheduled discussion with the company on November 29 could provide further clarity.
At last check, Diana Shipping was up 2.5 percent at $3.48.
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.