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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 week full of international cannabis policy updates, Thailand, Morocco and Pakistan have made strides, each presenting divergent paths when it comes to regulating the plant.
Thailand’s Prohibition Stance
Thailand, known for its progressive stance on cannabis in recent years, has taken a surprising turn by moving towards tightening regulations. The Kingdom, once celebrated for its progressive steps towards cannabis decriminalization and medicinal legalization, is now tightening its grip on cannabis-related activities. Conservative Prime Minister Srettha Thavisin said on Wednesday that cannabis would be re-listed as a Category 5 narcotic, subject to strict controls akin to heroin or cocaine. This move marks a significant departure from its previous trajectory since Thailand was the first Asian country to legalize adult-use cannabis in 2020. Resistance in building among locally affected shareholders who are setting in place protests and class-action lawsuits to stop the measure.
Morocco’s Push for Recreational Legalization Gains Momentum
In North Africa, Morocco is witnessing a growth in support for the legalization of recreational cannabis. Despite its long-standing reputation as a major cannabis producer, Morocco has historically maintained a strict anti-cannabis policy. This means that the country has turned its back on nearly half a million farmers growing cannabis in the Rif region, one of the largest cannabis-producing areas on the planet.
Despite partial legalization in 2021, most farmers from the Rif are still working to provide the international black market. However, legalization efforts have emboldened stakeholders to advocate for broader legalization aiming to get all farmers to produce under the legalized framework. For advocates, this implies legalizing the production to meet international demand. Shakib Al Khayari, the coordinator of the Moroccan Coalition for Medical and Industrial Use of Cannabis, said: “In Morocco, it will be necessary to open a discussion because regulation for medical and industrial purposes will not eliminate the existing black market.”
Pakistan’s Economic Imperatives Drive Medicinal Cannabis Legalization
In South Asia, Pakistan emerges as a new player in the global cannabis market, driven by economic imperatives. The establishment of the Cannabis Control and Regulatory Authority (CCRA) signals Pakistan’s intent to legalize cannabis derivatives for medicinal and industrial purposes. The regulatory framework, crafted to adhere to UN mandates of February this year, specifies the maximum level of THC to be 0.3 percent.
"Technically, now the cultivation is legal since the ordinance has been passed, but we are still in [the] process of developing rules and procedures and awaiting registration of the authority," Syed Hussain Abidi told Al Jazeera.
This will put Pakistan on the list of possible hemp based products and dried flower international providers. The Asian country’s advantage, similar to that of Morroco, is that hemp production is traditional and they grow approximately 70,000 acres of cannabis each year. The bulk of this production goes to the black market.
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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