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.
Toward the end of trading Friday, the Dow traded up 0.17% to 27,268.35 while the NASDAQ fell 0.15% to 8,195.14. The S&P also fell, dropping 0.08% to 2,992.67.
Leading and Lagging Sectors
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Industrial shares rose 0.9% on Friday. Meanwhile, top gainers in the sector included Safe Bulkers, Inc. (NYSE:SB), up 12%, and Marten Transport, Ltd. (NASDAQ:MRTN), up 11%.
In trading on Friday, real estate shares fell 1.2%.
Top Headline
American Express Company (NYSE:AXP) reported better-than-expected earnings for its second quarter.
American Express reported second quarter earnings of $2.07 per share, which beat the analyst consensus estimate of $2.04. The company reported quarterly sales of $10.84 billion, versus the analyst consensus estimate of $10.82 billion. American Express affirmed its outlook for 2019.
Equities Trading UP
Midatech Pharma Plc (NASDAQ:MTP) shares shot up 45% to $1.89 after the company announced positive results from a first in human study of its MTX102 immuno-tolerising vaccine product candidate in diabetes.
Shares of Gannett Co., Inc. (NYSE:GCI) got a boost, shooting up 18% to $9.30 after a report of talks to merge with GateHouse. The deal could be announced in the next few weeks.
Skechers USA Inc (NYSE:SKX) shares were also up, gaining 13% to $39.14 after the company reported better-than-expected earnings for its second quarter and issued strong third-quarter guidance.
Equities Trading DOWN
Jaguar Health, Inc. (NASDAQ:JAGX) shares tumbled 23% to $1.99 following pricing of a 1.8 million Class A unit offering at $2 per unit.
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Shares of J C Penney Company Inc (NYSE:JCP) were down 17% to $0.90 after Reuters reported the struggling department store may have hired debt restructuring experts. JC Penney tasked experts to explore options that would give the company more time to oversee a turnaround in the face of $4 billion of debt which needs to be addressed in the coming years, sources told Reuters.
QEP Resources, Inc. (NYSE:QEP) was down, falling 20% to $5.02 amid reports Elliott Management has cut the price of its takeover bid.
Commodities
In commodity news, oil traded up 1% to $55.83, while gold traded down 0.4% to $1,423.10.
Silver traded down 0.5% Friday to $16.12, while copper rose 1.3% to $2.746.
Euro zone
European shares closed mixed today. The eurozone’s STOXX 600 gained 0.12%, the Spanish Ibex Index fell 0.6%, while Italy’s FTSE MIB Index dropped 2.03%. Meanwhile, the German DAX gained 0.26%, and the French CAC 40 rose 0.03% while UK shares rose 0.21%.
Economics
The University of Michigan's consumer sentiment index rose to a 98.4 in July, versus previous reading of 98.2.
The total number of active U.S. oil rigs slipped by 5 to 779 rigs this week, Baker Hughes Inc reported.
Boston Federal Reserve Bank President Eric Rosengren will speak in New York City, New York at 4:30 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.