March 28, 2011 9:55 AM | 1 min read
20-Year Pro Trader Reveals His "MoneyLine"
Ditch your indicators and use the "MoneyLine". A simple line tells you when to buy and sell without the guesswork. It’s a line on a chart that’s helped Nic Chahine win 83% of his options buys. Here's how he does it.
Shares of Amyris, Inc. (NASDAQ: AMRS) are lower on the session by 8.99%, currently trading at $26.92. The stock had been moving largely higher over the past four months, but recently encountered strong selling pressure. It is currently trading below the 50-day moving average. Options traders are buying puts on the name today. Though action has been primarily in small lots, overall put volume is now running at 2.76x the daily average with 85% of all puts traded being purchases on the offer. Traders are buying the $30.00 and $25.00 strikes in multiple months. Amyris, Inc., formerly Amyris Biotechnologies, Inc. develops and provides renewable compounds for a variety of markets. As of September 30, 2010, the company was building and applying its industrial synthetic biology platform to provide alternatives to petroleum-sourced products used in specialty chemical and transportation fuel markets worldwide.
20-Year Pro Trader Reveals His "MoneyLine"
Ditch your indicators and use the "MoneyLine". A simple line tells you when to buy and sell without the guesswork. It’s a line on a chart that’s helped Nic Chahine win 83% of his options buys. Here's how he does it.
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