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.
With the S&P 500 back over the 50 day moving average and the lagging NASDAQ also joining the fray, one definitely has to be back to a market neutral and/or bullish outlook. While I cautioned we were due for an oversold bounce a week ago Thursday - the strength of this move certainly was far more than I thought, considering the deteriorated technical condition of the indexes and a breakdown by quite a few of 2010's leaders. As always, we can work off a big move via time (going sideways and consolidating) or price (pulling back). For the past 2 years it has been mostly time. Intermediate term I still want to see a new 'higher high' in the index before calling the all clear - i.e. S&P 1330.
Later in the week the news flow picks up - keep in mind Friday is labor reports day, along with one of the ISM reports.
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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