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.
In a House Oversight and Accountability Committee hearing Thursday, the commissioner of the Food and Drug Administration (FDA), Robert Califf faced a barrage of questions spanning various critical issues, from lead contamination in baby food to the regulation of hemp and cannabis-derived products.
However, one topic dominated the discussions: the rescheduling of cannabis.
Cut To Cannabis
Rep. Nancy Mace (R-SC) asked Califf for an update on the Department of Health and Human Services' recommendation to the DEA that cannabis be moved from Schedule I to Schedule III. He responded that while the decision rests with the DEA, the FDA supports the process without specifying a timeline.
"I don't even know, but if I did, I couldn't tell you anyway. So, the timing of a regulatory decision is something that would be up to the DEA, not up to me," Califf said.
Mace asked if the decision might come "this year."
"There's no reason for DEA to delay. I think they just have to take into account all the regulations that are in play," Califf responded.
"Without revealing too much about my age, I'm a child of the 60s, so it'd be nice if in my lifetime we came up with a regulatory scheme where whatever your belief is about use of the product, where these safety issues you referred to are written into law so that we have a scheme whereby we can regulate it," Califf added. "We're referees who write the rules. We need the right rulebook in order to play the referee role."
Cut To CBD
Meanwhile, Committee Chair Rep. James Comer (R-KY) initiated the hearing by expressing concerns over the FDA's January 2023 decision not to regulate CBD as a food and dietary supplement ingredient.
"The FDA’s refusal to regulate hemp products is creating a significant confusion in the market, and resulting in products with intoxicants that can be dangerous to Americans who use these products. It has also halted business trying in good faith to enter the market, while bad actors continue to thrive," Comer said.
Califf, the sole witness at the hearing, agreed with the need to address these issues. "[The] FDA has concluded that a new regulatory regime is needed, which could encourage better information to inform consumers about their choices. In the meantime, [the] FDA continues to assess the evolving information base and build awareness for Americans," he wrote in his submitted testimony.
Cannabis rescheduling and CBD will be topics of great interest at the upcoming Benzinga Cannabis Capital Conference on April 16-17 in Florida. Join us for this two-day event at The Diplomat Beach Resort for a chance to meet entrepreneurs, both large and small, to network, learn and grow. Renowned for its trendsetting abilities and influence on the future of cannabis, mark your calendars — this conference is the go-to event of the year for the cannabis world.
Now Read: This Canadian Nursery Is Exporting New Cannabis Strains To German Cannabis Producer Demecan
Photo by CVCTforum via Wikimedia
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!