Trade ideas

Today’s trade idea for option traders: Workhorse Group Inc.

trade idea for option traders

With the hype for regenerative energies and electric vehicles, Workhorse was one of the profiteers of the rally in this sector. In December 2020, the stock plunged about 22%. The reason for this was that the U.S. Postal Service announced it’s delaying a decision on who will get a contract to build next-generation trucks worth $6 billion for its fleet. On 4th January, on the other hand, Workhorse announced that it had received an order for 6,320 C-Series electric delivery vehicles from Pride Group Enterprises, a Canadian and U.S. based company with businesses in transportation for the last mile. So in a short term perspective, there is an opportunity for an options trade. Let’s check this out, folks.