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.
More and more eco-friendly initiatives around the world seem to be successful at inspiring others to join the club and help save the planet and those who inhabit it.
Apparently, to that end, the California Energy Commission (CEC) recently suggested that all indoor cannabis companies should shift completely to LED lights by 2023, reported The Sacramento Bee.
What Happened
With medical cannabis now legal in around 35 U.S. states and adult use in some 15, the demand for high-quality crops is growing exponentially along with the number of indoor growers and the size of their collective harvests.
The best quality cannabis is said to be grown indoors for a variety of reasons. This fact, however, comes with environmental consequences. “The irrigation, ventilation, and lighting required to nurture and grow plants drives enormous energy consumption,” notes the Sac Bee article.
For that precise reason, the CEC is attempting to put into effect eco-friendly changes via several new regulations, one of which is to ask cannabis cultivators to convert from low efficiency grow lights, like metal halide or high-pressure sodium, to far more energy-efficient LEDs.
What’s The Problem?
Switching to LED is a substantial upfront investment that many cannabis growers are not eager to make.
The problem is not just the initial investment in the LED equipment, but the added investment in research for growers to create new techniques to make sure the cannabis flower is produced in the same amount and with the same quality.
According to Energy consulting company Seinergy, the shift to LED could cost current California cultivators around $255 million.
“Some critics argue the cost of conversion will drive out new operators, encourage illegal grows and entice cultivators to work outside the scrutiny of regulators,” wrote Charles Kieley in The Sacramento Bee. Kieley is co-founder and COO of cannabis company Kings Garden Inc.
Fighting Climate Change
Kieley said: “The backlash against LED is shortsighted.”
The idea behind the regulation, Kieley explained, is to help fight climate change. He added that he is “convinced that, through a rigorous experimentation process, we can cultivate equivalent production at the same high quality.”
His company plans to fully transition to LED before the end of 2022.
Another cannabis company that recently committed to an eco-friendly future is HEXO Corp (TSX: HEXO, NYSE: HEXO). This Canadian cannabis giant decided it was going to reach 100% carbon neutrality by September 2021 by significantly reducing its plastic usage and undertake other meaningful initiatives.
We are looking forward to seeing more companies join this noble eco-friendly trend.
Photo by kēvïïïn grashüpfer on Unsplash
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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