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.
Iconic U.S. motorcycle brand Harley-Davidson Inc (NYSE:HOG) has decided to exit India - the world's largest motorcycle market, as a part of its "Rewire" strategy of having a leaner operating model.
What Happened: Harley had been struggling to make in-roads in India's motorcycle market dominated by low-cost players. As a result, it decided to shut shop in India as a part of its restructuring strategy introduced by Jochen Zeitz, chairman, president, and CEO, who had joined in May this year.
ENTER TO WIN $500 IN STOCK OR CRYPTO
Enter your email and you'll also get Benzinga's ultimate morning update AND a free $30 gift card and more!
Harley expects to complete the revamp in the next 12 months, which will include a reduction of approximately 70 employees, and a restructuring cost of $75 million.
The company has hired former Tyson Foods, Inc. (NYSE:TSN) executive Gina Goetter as the new Chief Financial Officer, effective Sept. 30.
"India is a high volume, low margin market. They weren't structured to play that game, being at the very pointy end of the pyramid. The lifestyle element that goes with owning a Harley bike is also not fully developed in India yet," Hormazd Sorabjee, Editor of Autocar India told BBC.
The coronavirus pandemic has dealt a blow to the bike maker, which was struggling already with an average sale of 3,000 units a year.
The company could not beat the affordability of Royal Enfield, which dominates the premium motorcycle market. Harley's bikes in India started at INR 450,000 ($6,100) compared to Royal Enfield's lighter vehicles selling for INR 200,000 ($2,717.67), reports the Financial Times.
Why It's Important: Harley's exit comes after General Motors Company (NYSE:GM) and Ford Motor Company (NYSE:F) scaled back its India operations. The country's auto sector has been struggling for some time and Japanese carmaker Toyota Motor Corp (NYSE:TM) has decided to not expand in India owing to higher taxes, reports FT. Indian Prime Minister Narendra Modi's "Make-in-India" has had limited success in this regard.
This will not bode well with the Trump administration, which has accused India of unfair treatment. It can be a sticking point with the U.S., with whom India is negotiating a free trade agreement, according to BBC.
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.