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.
Despite a stormy year in the dry bulk shipping industry, Deutsche Bank issued a Buy rating on Scorpio Bulkers Inc (NYSE: SALT) with a price target of $7.25.
Upgrade Justification
The previous Hold rating was adjusted to reflect increased optimism about the shipping industry partly inspired by significant increases in share counts throughout the year. Analyst Amit Mehrotra posited that the market may become “more rational” after it tanked in 2016.
The specific valuation — up from the previous $4.50 — was reflective of Scorpio Bulkers’ newly positive balance sheet, which is superior to those of its competitors.
The Sector
The Deutsche Bank report acknowledged cuts in dry bulk rates and asset values as primary risks for company shares, which rose 10 percent on Tuesday after closing 2016 about $0.71 higher than they began the year.
Meanwhile, Safe Bulkers, Inc. (NYSE: SB) rose $0.73 throughout the 2016, Seanergy Maritime Holdings Corp. (NASDAQ: SHIP) fell $1.69 and Navios Maritime Partners L.P. (NYSE: NMM) dropped $0.93.
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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