Profit Pregame

This Could Be The Winner of The Electric Car Showdown (No, It’s Not Tesla)

What could be the surprise winner of the electric car games

We’ve talked a lot about the electric car battle that’s currently taking place. From Tesla to Nikola, the race to take the crown has been one that has dominated the headlines lately. But there’s a new contender, and it’s aiming to blow both of these heavyweights out of the water.

As Nikola and Tesla battled it out in the headlines – Rivian was quietly raising 2.5 billion in financing for their newest electric truck venture. The company is used to other companies living in the limelight. Still, truthfully, Rivian could be the first company to bring an all-electric pickup truck to market early-to-mid next year. So, despite their lack of coverage, Rivian could be money, even maybe years ahead of its competitors.

“We’re focused on making sure that we deliver,” Robert Scaringe, the CEO, said before the company announced its newest round of funding Friday. “We really value active humility and letting our actions speak louder than our words.”

I’ll be interested to see how this one plays out – and who knows, maybe the ‘underdog” of the industry could walk away with the coveted “electric car” crown in the blink of an eye.

But wait just a minute…

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Trading tip of the week…

Understanding risk is very important.

When it comes to trading options, weekly options can be very profitable. But they also come with the highest gamma and theta – making them the options with the highest risk and highest reward.

That’s why, when trading them, you have to assess your risk tolerance and be comfortable with the amount of risk you’re putting out there. For example, when it comes to putting $500 of risk in, let’s say, a September option does not equate to the amount of risk you have putting $500 into a weekly option.

So, when trading, it’s essential to look past the dollar amount and identify your real risk – this includes time till expiration, theta, gamma, and more.

The earnings report that has caught my eye:

It’s the week that many have been waiting for – banks are gearing up to report earnings. And let’s be honest, banks have had a rough year as coronavirus has tightened its grip on the economy. On top of this, banks have had to set aside more money to cover expected loan losses. So, the future outlook isn’t so bright.

But I’ve got my eye on one of the largest banks in the U.S…

JPMorgan Chase & Co. (JPM).

This massive player in the banking sector is scheduled to report earnings on Tuesday, and I’ll be keeping a close eye on this stock as I believe we could be seeing a nice setup coming our way.

With that said, I’ll be keeping you updated on this, and I’m looking forward to seeing the numbers posted in this sector next week.

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