May 17, 2024 8:07 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.
Tesla charging stations in Vallejo, California, were recently targeted by thieves who stole copper cables, causing damage and inconvenience for drivers.
Mother’s Day Mayhem: The incident reportedly occurred on Mother’s Day when nine charging stations behind a Vallejo Target store were vandalized. Thieves cut the heavy-duty cables, which contain valuable copper, rendering the stations inoperable.
Retired Marine Josh Beckler, a Tesla driver, discovered the damage the following morning. “It most likely happened in the night, and we found it early morning,” Beckler told NBC Bay Area.
He described the scene, highlighting the sheer number of cables stolen: “You know, they left five charging stations. I’m pretty sure after they racked up, I don’t know what the quantity was, but almost 20 cables with the nozzles. Those are extremely heavy, so I’m imagining that’s all they could haul at one given time.”
Quick Repairs Minimize Downtime: The incident raised concerns about the security of Tesla’s charging infrastructure, especially when the company’s charging unit has seen some heavy layoffs. Some drivers suggested implementing additional security measures, such as gates, to deter future thefts, as per the report.
However, Tesla workers had the stations back up and running by Monday evening, the report added.
Wider Impact: This incident highlights a potential vulnerability for the growing EV charging infrastructure. Tesla’s decision to open its Supercharger network to other EV makers like Ford and Rivian in February means damaged stations could affect a wider range of EV drivers moving forward.
As of the end of the first quarter, Tesla boasted 57,579 Supercharger connectors across 6,249 stations globally.
Copper In Demand: The surge in copper theft comes amid the significant rise in copper prices.
The high copper content of these cables makes them a lucrative target for thieves, especially with copper prices hovering near two-year highs of $10,000 per metric ton, driven by demand in sectors like EVs, power infrastructure, artificial intelligence, and automation.
Check out more of Benzinga’s Future Of Mobility coverage by following this link.
Read Next: Tesla’s New Model 3 Performance Gets Second $1000 Price Hike, Retains Tax Credit Perk
Disclaimer: This content was partially produced with the help of Benzinga Neuro and was reviewed and published by Benzinga editors.
Photo via Shutterstock
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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