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 tech giant Xiaomi has informed potential buyers of its new SU7 electric sedan about a possible delivery delay of up to seven months.
What Happened: Xiaomi started accepting orders for the SU7 on Thursday, with the vehicle’s starting price set at $29,870. Within the first 24 hours, the company received 88,898 pre-orders.
According to Reuters’ checks on Xiaomi’s car app on Monday, delivery times for the standard SU7 model could take 18-21 weeks, the SU7 Pro model 18-21 weeks, and the most expensive model, priced at 299,900 yuan, could take 27-30 weeks.
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As part of the sales campaign, Xiaomi also launched two special “Founder’s Edition” versions of the car, which come with complimentary gifts like refrigerators. The first batch of 5,000 such cars sold out immediately after orders opened on Thursday.
On Sunday, co-founder and CEO Lei Jun announced in a Weibo post that a second round of sales for the Founder’s Edition would be opened but did not specify the quantity. He also mentioned that during the ordering process, Xiaomi identified and blocked some abnormal orders and those placed by scalpers.
Xiaomi has built a Beijing factory capable of producing 200,000 cars annually, even before it had regulatory approval to start manufacturing in China. State-owned automaker BAIC Group disclosed in November that it would manufacture the cars for Xiaomi at the same plant.
Why It Matters: Xiaomi’s entry into the electric vehicle (EV) market with the SU7 sedan has been met with an overwhelming response. The vehicle received 120,000 orders within 36 hours of its launch.
The SU7, priced significantly lower than its competitors, is seen as a direct challenge to Tesla Inc’s (NASDAQ:TSLA) Model S and the Porsche Taycan.
Read Next: Second Chance For Nikola? Electric Trucks Return To Customers After Fire Recalls With New Features
Image Credits – Xiaomi
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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.
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