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 FDA’s proposal to ban menthol-flavored cigarettes in the United States is facing another setback as White House officials have missed yet another deadline for the final ruling on the ban.
Menthol cigarettes, which make up a third of the industry’s market share in the United States, have long been criticized for their appeal to young smokers and significant health impacts, particularly within Black communities, where they are heavily marketed.
Civil rights groups have argued that menthol cigarettes pose a disproportionately higher risk in Black communities, with about 81% of Black adults who smoke cigarettes using menthol varieties compared to 34% of white adults, according to the U.S. Centers for Disease Control and Prevention (CDC).
After the FDA proposed banning menthol cigarettes in 2022, several health and anti-smoking groups urged the Biden administration to enforce it.
However, the Administration has delayed issuing a final rule, missing the latest deadline set for March 2024.
The Campaign for Tobacco-Free Kids and the NAACP, both supporting the ban, expressed disappointment over the delay, emphasizing the potential benefits of eliminating menthol cigarettes, including reducing the number of young smokers and saving lives.
Altria Group Inc (NYSE:MO) and British American Tobacco Industries (NYSE:BTI) are among the companies with significant exposure to menthol sales, with over 20% of their revenue coming from menthol products, Reuters noted citing a Morningstar analyst.
The uncertainty around the menthol ban has prompted British American Tobacco to write down the value of some of its U.S. cigarette brands. Meanwhile, over 100 organizations, including prominent medical and civil rights groups, have called on Biden not to delay the ban further.
Public health groups have filed a lawsuit against U.S. regulators for failing to implement the menthol ban, claiming that the delays are unreasonable and unlawful. Menthol cigarettes have been linked to millions of premature deaths in the U.S., especially among Black smokers, whom aggressive marketing tactics have targeted.
According to critics, the FDA’s inaction on menthol fits a sluggish response to public health risks, the Bloomberg report highlighted.
Price Action: MO shares are down 0.50% at $43.01, and BTI shares are down 0.12% at $30.32 on the last check Tuesday.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Image by svklimkin from Pixabay
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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