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.
- General Motors Co's (NYSE:GM) driverless-car unit has requested approval from California regulators to begin public testing a shuttle with no steering wheel or manual controls.
- In August, GM's Cruise LLC division applied to the California Department of Motor Vehicles, requesting permission to test its Origin driverless vehicle on San Francisco streets, the Wall Street Journal reported.
- In its application, Cruise said it would begin test runs of the electric Origin in a confined area of San Francisco during limited hours and gradually expand over time.
- Also Read: Ford And Volkswagen Folded Argo AI After Failing To Reach Deal With Amazon
- While GM and Cruise push ahead on plans to commercialize robotaxis, other players have pulled back over concerns regarding the technology's viability.
- Cruise eventually plans to operate thousands of podlike shuttles in a service that would span several U.S. cities and bring in $1 billion in annual revenue by 2025 and $50 billion annually by 2030.
- Before the end of the year, Cruise aims to expand its robotaxi service using the retrofitted Chevy Bolts to Austin, Texas, and Phoenix.
- It plans to enter more cities next year with thousands of autonomous vehicles, including some Origins, produced by GM and operated by Cruise.
- GM plans to build Origins in volume at GM's main electric vehicle factory in Detroit next year.
- To transport people, Cruise would need authorization from a separate California regulator that oversees commercial vehicles, according to the DMV application.
- Cruise plans to operate the Origin in the city and county of San Francisco at speeds up to 35 mph at all day hours, except when stormy weather is present.
- Price Action: GM shares closed higher by 1.91% at $40.51 on Wednesday.
- 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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