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.
South Korean battery supplier LG Chemicals is on track to report record quarterly results for the third quarter as the electric vehicle space shows ongoing momentum.
What Happened: LG Chemicals, which supplies EV batteries to Tesla Inc (NASDAQ:TSLA), said it expects to report a third-quarter operating profit of 902.084 billion won ($785.33 million), representing a 158.7% year-over-year increase, the company revealed in a filing with the South Korean stock exchange.
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This compares to the 746-billion-won consensus forecast, Reuters reported, citing Refinitiv SmartEstimate.
Revenues climbed 8.8% year-over-year to 7.51 trillion won ($6.54 billion).
Related Link: Bull Vs. Bear Debate: Does Tesla Have A Battery Problem?
Why It's Important: LG Chem's strong results in part reflect Tesla's third-quarter delivery numbers. The U.S. EV pioneer reported record third-quarter deliveries earlier this month.
Tesla is also reportedly looking to pick up a stake in LG Chem in a bid to secure battery supplies as the demand for EVs continues to surge.
Additionally, LG Chem may also have benefited from an increase in demand for home appliances as a result of the coronavirus pandemic. They're manufactured using petrochemicals supplied by the company, the Reuters report said.
Related Link: Tesla Analyst Sees Disconnect Between Share Price, EV Company's Fundamentals
Courtesy photo.
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.