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.
Shares of Five Below Inc (NASDAQ: FIVE) fell more than 2 percent, but Loop Capital says the weakness presents a buying opportunity as the cut in the fourth quarter EPS forecast isn't “catastrophic.”
Five Below cut its fourth quarter EPS guidance to $0.88-$0.89 from $0.89-$0.92. The revised forecast is based on new net sales estimate of $386-$388 million (as compared a prior estimate of $391-$397 million) and a 1 percent comparable sales increase (versus prior estimate of 2-3 percent).
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The company noted that sales slowed in mid-December following a "solid start" to the holiday selling season.
“Five Below's holiday sales were a bit worse than we expected, but not catastrophic by any stretch—particularly given the recent disappointing results posted by other retailers, including J C Penney Company Inc (NYSE: JCP), Kohl's Corporation (NYSE: KSS) and Macy's Inc (NYSE: M),” analyst Anthony Chukumba wrote in a note.
In addition, the analyst pointed out company’s comments that its 2016 new stores are on track to be one of the company's strongest classes ever.
As such, Chukumba reiterated his Buy rating and $54 price target on the stock.
Separately, Chukumba picked Five Below along with Best Buy Co Inc (NYSE: BBY) and Pier 1 Imports Inc (NYSE: PIR) as his favorites in the specialty hardlines retail sector in 2017.
At last check, shares of Five Below fell 1.76 percent to $39.02.
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.