27% profits every 20 days?
This is what Nic Chahine averages with his options 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.
Glencore PLC has made a takeover approach to Bunge Ltd (NYSE:BG), according to a report from The Wall Street Journal.
Shares of Bunge soared after the news, rising more than 15 percent from the low-$70 handle to over $81 per share. The London stock exchange, on which Glencore is traded, was closed at time of writing.
What Is Bunge?
Bunge is one of the biggest producers and processors of agribusiness commodities including soybeans, corn and bioenergy. A deal between the two would give Glencore, a multinational mining and commodity-trading powerhouse, a major position in the U.S. agribusiness sector.
Glencore already has experience in the industry. Its agricultural products segment includes staple crops, cotton, and bio-fuels, which are supported by investments in storage and processing facilities.
Bunge has a market value of close to $10 billion, including debt. The move by Glencore signals that it has moved past the solvency questions it faced two years ago.
Benzinga reached out to Glencore and Bunge, but were unable to reach a spokesperson from either company.
Bunge competitor Archer Daniels Midland Company (NYSE:ADM) also jumped on the news, from the mid-$41 range to a high of $43.48 before pulling back to the upper-$42 handle.
Bunge's stock traded recently at $80.24, up 14.5 percent on the day.
27% profits every 20 days?
This is what Nic Chahine averages with his options 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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