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.
- Samsung Electronics Co, Ltd (OTC:SSNLF) curtailed production at its massive smartphone plant in Vietnam to counter rising inventory amid reduced consumer spending, Reuters reports.
- Vietnam's northern province of Thai Nguyen, one of Samsung's two mobile manufacturing bases in the country, accounts for half of its phone output. Samsung has invested $18 billion in the country, contributing 20% of Vietnam's total exports.
- Samsung, which shipped ~270 million smartphones in 2021, claims the campus can make ~100 million devices annually. It overtook Intel Corp (NASDAQ:INTC) as the top chip seller during the year.
- Also Read: Read How Samsung Performed In Q2
- A worker acknowledged reduced working days with no overtime contrasting to 2021, when the pandemic was at its peak.
- Other workers also acknowledged a slowdown in the business with unprecedented production and workday cuts.
- Samsung acknowledged no plans to cut its annual production target in Vietnam.
- Samsung also makes phones in South Korea and India.
- It is relatively optimistic about smartphone demand in the second half aiming for foldable phone sales to surpass that of its past flagship smartphone, the Galaxy Note.
- However, Gartner expects global smartphone shipments to decline by 6% this year due to consumer spending cuts and a sharp sales drop in China.
- The U.S. - China rivalry is also set to cost the chipmaker as the countries laid down the criteria for chip production.
- Photo via Wikimedia Commons
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.
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