April 19, 2024 8:48 AM | 1 min read |
27% profit every 20 days?
This is what Nic Chahine averages with his option 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.
Despite a Delaware judge voiding Elon Musk‘s record-breaking 2018 pay package in January, citing unfairness to investors, Tesla, Inc. (NASDAQ:TSLA) has secured a critical supporter for its reinstatement: T. Rowe Price, the company’s tenth-largest shareholder.
What Happened: This backing from a major investor, as reported by Reuters, adds a significant layer of intrigue to the upcoming special vote at Tesla’s June 13 annual shareholder meeting. The vote seeks re-approval of the 2018 compensation plan, which the court deemed unfair due to the board’s negotiation process.
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!
T. Rowe Price stands in stark contrast to the court’s decision. In a statement, the investment firm underscored its belief that the 2018 plan aligned with the interests of long-term investors. They further emphasized Musk’s success in fulfilling the ambitious goals outlined in the original agreement.
Why It Matters: This position by T. Rowe is noteworthy considering their significant stake in Tesla.Â
With 22.4 million shares held as of Dec. 31, their vote carries substantial weight. Their support suggests confidence in Musk’s leadership and the long-term value-creation potential tied to the performance-based pay package.
While Tesla argues the court’s decision left Musk uncompensated for the past six years, and the board chair echoed concerns about fairness, the focus now shifts to the broader investor base.Â
Check out more of Benzinga’s Future Of Mobility coverage by following this link.
Read More: Tesla Recalls Over 3,800 Cybertrucks, Cites Unintended Acceleration Risk
Photo via Shutterstock
27% profit every 20 days?
This is what Nic Chahine averages with his option 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.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
