June 7, 2024 5:58 AM | 1 min read
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.
Video game retailer GameStop Corp. (NYSE:GME) continued its rally in premarket trading on Friday, carrying momentum from the previous session.
The surge began Wednesday afternoon after Keith Gill, also known as Roaring Kitty, scheduled a livestream on his YouTube channel for Friday at noon EDT. Traders widely anticipate the meme stock enthusiast will discuss his investment thesis behind the massive GameStop stock purchase he disclosed earlier this month.
In a recent update on Reddit, Gill showed he continues to hold the 5 million shares and 120,000 June 21 $20 call options.
Including the call options, the value of Gill’s GameStop stake reached an estimated $557.05 million, bolstered by a $250.4 million surge on Thursday alone.
Despite skepticism surrounding the legitimacy of Gill’s holdings, retail investors are apparently buying into the stock, seemingly unfazed by GameStop’s declining fundamentals.
Premarket trading saw the stock climb 33.88% to $62.35, according to Benzinga Pro data.
Read Next: Best Meme Stocks
Image via Shutterstock
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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