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 up 0.21 percent to 20,937.96 while the NASDAQ climbed 0.16 percent to 6,143.19. The S&P also rose, gaining 0.23 percent to 2,399.57.
Leading and Lagging Sectors
Utilities sector was the top gainer in the US market on Tuesday. Top gainers in the sector included Cia Energetica de Minas Gerais CEMIG-ADR (NYSE:CIG), Companhia Paranaense de Energia (ADR) (NYSE:ELP), and American Midstream Partners LP (NYSE:AMID).
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!
In trading on Tuesday, cyclical consumer goods & services shares fell 0.04 percent. Meanwhile, top losers in the sector included Kirkland's, Inc. (NASDAQ:KIRK), down 9 percent, and AutoZone, Inc. (NYSE:AZO), down 9 percent.
Top Headline
AutoZone, Inc. (NYSE:AZO) posted weaker-than-expected earnings for its third quarter on Tuesday.
AutoZone reported earnings of $11.44 per share in the quarter on revenue of $2.62 billion. Analysts were expecting earnings of $11.66 per share on revenue of $2.71 billion.
Equities Trading UP
Global Sources Ltd. (Bermuda) (NASDAQ:GSOL) shares shot up 49 percent to $17.88 after the company disclosed that it has entered into definitive amalgamation agreement with Expo Holdings I Ltd. and Expo Holdings II Ltd.
Shares of Helios and Matheson Analytics Inc (NASDAQ:HMNY) got a boost, shooting up 62 percent to $3.96 after the company reported a license agreement with IsItYou.
Independence Holding Company (NYSE:IHC) shares were also up, gaining 14 percent to $19.95. Independence Holding reported Q4 earnings of $0.49 per share on revenue of $78.871 million. The company also announced intent to begin tender offer to buyback up to 2 million shares of common stock.
Equities Trading DOWN
Spi Energy Co Ltd (ADR) (NASDAQ:SPI) shares dropped 7 percent to $0.352 after the company reported the receipt of delinquency notice from the NASDAQ.
Shares of Kirkland's, Inc. (NASDAQ:KIRK) were down 9 percent to $9.07 after the company posted a wider-than-expected loss for its first quarter. The company also announced the departure of its CFO.
Alexion Pharmaceuticals, Inc. (NASDAQ:ALXN) was down, falling around 9 percent to $105.13 after the company disclosed leadership changes. The company announced the resignation of CFO Dave Anderson. JPMorgan downgraded Alexion Pharmaceuticals from Overweight to Neutral.
Commodities
In commodity news, oil traded up 0.35 percent to $51.31 while gold traded down 0.21 percent to $1,258.80.
Silver traded up 0.17 percent Tuesday to $17.22, while copper fell 0.10 percent to $2.593.
Eurozone
European shares were higher today. The eurozone’s STOXX 600 rose 0.28 percent, the Spanish Ibex Index climbed 1.19 percent, while Italy’s FTSE MIB Index gained 0.39 percent. Meanwhile the German DAX climbed 0.35 percent, and the French CAC 40 surged 0.55 percent while U.K. shares fell 0.15 percent.
Economics
The Johnson Redbook Retail Sales Index declined 1.1 percent during the first three weeks of May versus April.
The flash reading of Markit manufacturing PMI declined to 52.50 for May, versus a prior reading of 52.80. Economists projected a reading of 53.00. The Markit services PMI rose to 54.00 for May, versus a previous reading of 53.10. Economists were expecting a reading of 53.10.
New home sales declined 11.4 percent to an annual rate of 569,000 in April. However, economists were expecting a 610,000 annual pace.
The Treasury will auction 2-year notes at 1:00 p.m. ET.
Minneapolis Federal Reserve Bank President Neel Kashkari is set to speak in Minneapolis at 3:15 p.m. ET.
Philadelphia Federal Reserve Bank President Patrick Harker will speak in New York at 5:00 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.