May 20, 2024 7:04 AM | 2 min read
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 U.S. auto safety regulator on Monday closed its year-long probe into over 100,000 Tesla Inc (NASDAQ:TSLA) Model X SUVs over concerns with its seat belts after the EV giant issued a recall aimed at fixing them.
What Happened: The National Highway Traffic Safety Administration (NHTSA) opened the preliminary evaluation into model year 2022 and model year 2023 Model X SUVs in March 2023, after receiving two complaints from consumers alleging issues with the front seat belts.
The complainants alleged that the front seat beats suddenly detached from the outboard lap pretensioner anchor while the vehicle was moving.
Tesla subsequently issued a safety recall for nearly 16,000 Model S and X vehicles in July. As for a remedy, the company said it would inspect these belts for proper connection to the pretensioners, resecure the pretensioners, or replace the seat belt retractor assembly if needed.
The agency on Monday closed the probe in light of the actions taken by the EV maker. However, it reserves the right to take action in the future if need be, the agency added.
Why It Matters: Earlier this month, the NHTSA closed another three-year-old probe into about 160,000 Tesla vehicles that it had commenced over concerns about loss of rearview camera display after the company issued a recall that it deemed sufficient.
However, late last month, the NHTSA opened a probe into Tesla’s recall of over 2 million vehicles equipped with Autosteer from December. The agency is now probing if the proposed remedy of a software update sufficiently addressed safety concerns in the recall.
Check out more of Benzinga’s Future Of Mobility coverage by following this link.
Photo courtesy of Tesla
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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