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.
The cannabis industry represents such a "beautiful opportunity" that even global securities services company Brink's Company (NYSE:BCO) wants a bigger share of the market, CEO Douglas Pertz told CNBC's Jim Cramer during his "Mad Money" show.
What Happened
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Brink's, perhaps best known for operating a fleet of armored trucks to transport cash for clients, entered the cannabis space in late 2018 by providing services to Canadian-based Canopy Growth Corp (NYSE:CGC). The company is taking an even bigger look at a global industry that could be worth $160 billion, Pertz told Cramer Monday.
Need more cannabis news? Check out all of our coverage here.
Why It's Important
The cannabis industry was born out of an illicit trade, and security companies like Brink's are needed for "safety and regulatory and other reasons," the CEO said.
Legal cannabis activity likely stands at just 10 percent of the entire market, which implies "a huge opportunity" to expand, he said.
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What's Next
Brink's doesn't offer its services to cannabis companies in the U.S., since it remains outlawed at the federal level.
Yet the industry is showing signs of opening up with the SAFE Banking Act that is being discussed in Congress.
The bill would allow federally chartered banks to take on cannabis companies as clients. This would benefit Brink's, as it would be able to "help serve" the industry, Pertz said.
Related Links:
Ask Our Experts 6/2/2019: FDA Holds Public Hearing About CBD, What Happened?
The Week In Cannabis: Earnings Madness, Illinois Legalization, FDA Hearing, And More
Public domain photo via Wikimedia.
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.