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.
At first glance, it appears shares of Under Armour Inc (NYSE: UA) plummeted 16 percent ahead of Wednesday's market open. However, this isn't the case and is due to a standard but not so common change in tickers.
Under Armour announced at the end of November it would change its familiar Class A Common Stock ticker from "UA" to "UAA." The Class C Common stock will now assume the "UA" ticker and previously traded under the symbol "UA.C."
Under Armour's Class C stock was distributed to investors through the form of a stock dividend earlier this year which had a similar effect of a stock split.
Not The First Time Investors Are Confused
Under Armour's investors faced a similar scare back in April when it appeared that the stock had crashed 50 percent.
Similarly, what appeared to be a large selloff in Under Armour's stock on April 8 was actually the result of the new Class C stock coming into effect. Several stock quote providers even showed that Under Armour's stock had gained 100 percent.
When adjusted for the issuance, Under Armour's stock opened lower by nearly 2 percent back in April as selling pressure from the confusion likely played a role. It has yet to be seen if the same confusion and panic will play a factor in Wednesday's trading session.
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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