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.
NJ Awards Nearly Twenty Annual Recreational Cannabis Business Permits
Adult-use cannabis sales in New Jersey launched on April 21 through seven existing medical cannabis operators.
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Now, New Jersey Cannabis Regulatory Commission (CRC) approved the first 18 annual licenses for cannabis businesses. “Eight of the applications were for direct-to-annual license applicants, and 10 were applications to convert existing conditional licenses to annuals,” according to the official announcement.
“This is a special milestone for the Commission and for New Jersey’s new legalized industry. With the awarding of eight cultivation licenses and three manufacturing licenses we are setting the good groundwork for New Jersey’s cannabis market,” said Dianna Houenou, commission chairperson.
“We hope to see these facilities up and running as soon as possible to be local Garden State suppliers to the seven retailers who also got their annuals today and the others that will be licensed in the future,” Houenou added.
As MJBiz Daily reported, the CRC also:
- Approved 297 more conditional licenses, bringing to 801 the total number of such permits awarded since March.
- Extended the time for certain conditional licensees to apply for conversion to an annual license.
- Increased the Social Equity Excise Fee that cultivators will pay for 2023 to $1.52 per ounce, up from $1.10 per ounce.
Michigan Votes On The Fate Of Cannabis Businesses
Next month, Marijuana will be on the ballot in at least 32 communities across Michigan. Voters will answer whether or not the community should allow marijuana retailers and growers to operate in the state.
Recently, Alan Brochstein, CFA and founder of New Cannabis Ventures and 420 Investor, reported that in September, Michigan cannabis sales rose 2% compared to August and increased 31.4% from a year ago to a record $212 million.
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However, stakeholders blame illicit market products entering the regulated market, as well as the lack of commercial space available to distribute marijuana. Thus, any new communities coming online for sales could alleviate at least some of those issues, reported Crain Detroit Business.
The communities of Wayne, Oakland, Macomb, and St. Clair counties will be the ones to determine whether weed is grown or sold in the municipalities through their votes.
Cannabis Legalization In New Hampshire
The New Hampshire Cannabis Party, which is a political party supporting cannabis legalization located in Conway, announced its “full-scale campaign for common-sense cannabis legalization” in New Hampshire.
“Contrary to conventional wisdom, cannabis legalization and commerce represents much more than just a few extra jobs and tax revenue,” reads the official announcement. “Rather, it offers a generational opportunity for comprehensive, multi-pronged prosperity and progress for all New Hampshire citizens.”
Nathaniel Gurien, founder and executive director of the cannabis state party, said legalization wouldn’t just create jobs for growers, and dispensaries "it might also spur innovation in pharmaceuticals and be a boon for New Hampshire’s tourism industry."
According to Gurien, "common-sense reform would involve legalization for adults over 21 years old. There would also still be prohibitions on driving while intoxicated," reported the Eagle Times. “We now have close to 50 bipartisan candidates (they’ve endorsed), across many state offices from governor down to state rep,” Gurien added.
In April 2022, state regulators dismissed two House-approved bills that would have legalized cannabis.
Senate members rejected noncommercial legislation posed by Rep. Carol McGuire (R) in a 9-15 vote. McGuire’s bill, which would have legalized marijuana possession and cultivation for adults got the green light from a Senate committee some two weeks before it was struck down by the full Senate.
Recently, state senator Dr. Tom Sherman (D), who is running for governor said if elected, he would vote for recreational legalization. Likewise, he stated that legalization could help reduce the use of opioids in the state.
Get your daily dose of cannabis news on Benzinga Cannabis. Don’t miss out on any important developments in the industry.
Photo: Courtesy of manish panghal on Unsplash
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.