Trade of the Week: LCID

Electric Cars, Green Revolution, Options
by Jay Soloff
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There’s been a crazy amount of options action in recent days in the electric vehicle industry.  Lucid Group (LCID) is one of the latest EV stocks to get lots of attention by traders.  The new company has a market cap larger than Ford (F), at least for the time being.  On a day when over 1 million options traded in LCID, the contracts were fairly evenly split between calls and puts.  Digging into the trades, there appears to be a mix between bullish and bearish bets, with some put trades potentially serving as hedges.

Author: Jay SoloffJay Soloff is the Options Portfolio Manager at Investors Alley. Jay is also the editor for 48-Hour Income, Options Insiders, and co-editor of Weekly Income Accelerator and POWR Income with Tim Plaehn. Prior to joining the online investment world, Jay was a floor trader and market maker on the CBOE, the world's largest options exchange. His experience includes trading a multi-million dollar options portfolio in equities options as well as serving as a consultant to Wall Street options trading groups. Jay also spent time as a senior analyst at a hedge fund of funds, where he analyzed professional options funds as well as traded option strategies for hedging purposes. All told, Jay has 20 years of options trading experience. He received his undergrad degree in Economics at the University of Illinois - Champaign, and his MBA and Master of Science in Information Management from Arizona State University.
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