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.
- Chinese electric vehicle maker Nio Inc (NYSE:NIO) and tech giant Tencent Holding Ltd (OTC: TCEHY) collaborated on autonomous driving and high-definition mapping areas.
- Tencent inked a cooperation agreement with Nio in China, CNBC reports.
- The firms look to cash in on Beijing’s focus on new energy cars.
- Also Read: Intel Raises $861M From Its Self-Driving Technology Mobileye’s IPO, Starts Trading Today
- The partnership could allow Tencent to do this while also giving Nio the technology backing of one of China’s most prominent firms.
- Tencent is already a significant investor in Nio, striving to differentiate itself from a sea of electric car start-ups.
- Nio and Tencent will work together on high-precision mapping systems for drivers.
- Nio will also use Tencent’s cloud computing infrastructure for data storage and training for autonomous driving.
- Tencent’s partnership with Nio gives the company another opportunity to push into new business areas as its core video gaming business continues to battle regulatory headwinds.
- Nio, meanwhile, is facing challenges, including widening losses and pressure on margins from higher material costs and supply chain issues.
- In August, E-commerce firm Alibaba Group Holding Limited (NYSE:BABA) and Nio rival XPeng Inc (NYSE: XPEV) opened a computing center to train software for driverless cars.
- Price Action: NIO shares traded higher by 3.95% at $10.91 in the premarket on the last check Tuesday.
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.
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!