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.
The measure approved on Tuesday would raise penalties for using a vehicle to damage or gain access to retail cannabis outlets. The legislation, which passed the Senate in a 49-0 vote, now heads to the House for consideration.
Under SB 6133, sponsored by state Senator Jim McCune (R), anyone who uses a car to smash and grab at a marijuana shop could be charged with either robbery 1 or 2 (class A or class B felony), according to McCune’s website.
The proposed legislation seeks to assist the state Liquor and Cannabis Board (LCB) in keeping statistics on break-ins by requiring marijuana outlets to report robberies within 10 days and tasking the Washington State Patrol with regular consultation with the LCB’s chief enforcement officer.
Robbery statistics best explain the need for this type of legislation as marijuana shops are experiencing an "epidemic" of costly robberies. In January 2022 alone, retail cannabis shops reported 29 armed, daytime robberies. There were six in one day. In February, there were 31 armed robberies. These figures might not even reveal the whole story as they were taken from the industry's unofficial register, called Uncle Ike's Robbery Tracker, writes My North West.
Per the Washington’s Craft Cannabis Coalition, robberies at pot shops rose in 2022, with more than 100 cases reported as well as the first death of an employee during a break-in.
See Also: Washington State Lawmakers Join Struggle Against Cannabis Shop Robberies
With marijuana still being federally illegal, cannabis companies are compelled to rely heavily on cash, which makes them ideal targets for robberies.
"As we heard from those in the industry who testified … these types of robberies are happening on a weekly basis in Washington," McCune said. "Some of the retailers have been hit five, seven, even eight times, to the point where it is almost becoming routine. Some no longer even bother to report the crimes. Reporting and tracking these events are essential to understanding just how big of a problem this is and reducing the effects of these crimes on cannabis businesses and the communities where they are found."
Related Links:
Washington State Moves Closer To Legalizing Personal Marijuana Cultivation
Washington State Sen Introduces Bill To Legalize Sale Of Hemp-Infused Food And Beverages
Benzinga Cannabis Conferences are coming to Los Angeles. Join the Benzinga Cannabis Market Spotlight: California, and unlock the future of cannabis at the premier networking event in Culver City on February 22. Connect with top industry leaders, gain insider insights into the investment landscape and shape the evolving markets in California and beyond. Don't miss this chance to be at the forefront of the cannabis industry's growth and innovation! Join now.
Photo: Benzinga edit with images by Tima Miroshnichenko and Jess Loiterton via Pexels
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!