Option chain shows key data for Novagant's stock options at various strike prices and expiration dates. Traders use this information to analyze potential trades and assess market sentiment for Novagant.

Novagant (OTC:NVGT) Stock, Option Chain

Novagant Corp through its subsidiary is a logistics service provider in Hong Kong. The company particularly specialized in Fast Moving Consumer Goods (FMCG) and Health Care Products. It generates revenue from the Air/ocean freight services income.

Novagant Corp

By <a href="https://elplanteo.com/author/lucia-tedesco/">Lucía Tedesco</a> via <a href="https://elplanteo.com/paraguay-legalizar-thc-cannabis-latinoamerica/">El Planteo</a>
<a href="https://elplanteo.com/paraguay-legalizar-thc-cannabis-latinoamerica/">Paraguay</a>&#8216;s government, in collaboration with key private sector players, is betting on establishing the country as a leading exporter of cannabis-derived products. The vision is to transform Paraguay into a reference hub for Latin America and the world.
To achieve this ambitious goal, the strategy focuses on legislative reforms and infrastructure investments, with an emphasis on economic and social sustainability. One cornerstone of this initiative is revising the legal framework governing industrial cannabis. Currently, the maximum allowable <a href="https://elplanteo.com/que-es-el-thc/">THC</a> content—the psychoactive compound in <a href="https://www.benzinga.com/cannabis">cannabis</a>—is capped at 0.5%. However, this limit hampers opportunities in international markets that permit higher concentrations under strict regulations.
<h3 class="wp-block-heading">Legislative Reforms And Industry Potential</h3>
Recently, Minister of Industry and Commerce Javier Giménez visited one of Paraguay's top cannabis manufacturing facilities. He highlighted the sector&#8217;s significant potential to boost the national economy, emphasizing a coordinated approach to fostering cannabis development.
<a href="https://elplanteo.com/paraguay-legalizar-thc-cannabis-latinoamerica/">Marcelo Demp</a>, president of the Industrial Cannabis Chamber of Paraguay (<a href="https://elplanteo.com/casorla-cannabis-paraguay/">CCIP</a>) and vice president of the Latin American Hemp Industry Association (LAIHA), underscored this need: &#8220;Expanding our legal framework would enable Paraguay to become a supplier of finished products for the region and the world, including markets like Argentina and Brazil.&#8221;
The proposed next step involves authorizing products with higher THC content for sale in regulated dispensaries. To this end, the CCIP is working with multiple institutions to introduce a bill ensuring complete traceability from production to sale.
&#8220;What CCIP proposes is to legalize THC under the same rigorous controls and traceability already in place for industrial cannabis,&#8221; Demp added.
<h3 class="wp-block-heading">International Competitiveness</h3>
Paraguay has already proven its ability to compete in the global market. In recent years, it has exported cannabis-derived products to the United States, Canada, Brazil, the United Kingdom, the Netherlands and other European countries.
Moreover, the country boasts over 20 authorized dispensaries that not only offer legal products but also serve an educational purpose by informing the public about the benefits and applications of industrial cannabis. According to Demp: &#8220;Paraguay exports to more than 10 countries, and the opening of local dispensaries has been key to building consumer trust and awareness.&#8221;
<h3 class="wp-block-heading">A Sustainable And Inclusive Approach</h3>
Paraguay's cannabis strategy also emphasizes environmental sustainability and social development. The CCIP actively collaborates with small farmers, integrating them into a value chain that promotes responsible agricultural practices and creates opportunities for rural communities.
Looking ahead, the industry envisions diversifying cannabis applications across food, supplements, therapeutic products, cosmetics, and regulated recreational products. Demp highlighted the broader economic and reputational benefits: &#8220;By selling finished products in authorized dispensaries and exporting to markets like Argentina, Brazil, the U.S., Canada, and Europe, Paraguay will not only strengthen its economy but also establish itself as a global leader in the sector.&#8221;
Cover image made with AI
This article is from an external unpaid contributor. It does not represent Benzinga&#8217;s reporting and has not been edited for content or accuracy.

Cannabis

Latin America

A Global Cannabis Exports Leader In The Making? Paraguay Targets THC Reform To Boost Economy

B. Riley Securities analyst Eric Wold downgrades RumbleON (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RMBL#NASDAQ">RMBL</a>) from Buy to Neutral and maintains the price target from $7 to $7.

News

Downgrades

Price Target

Analyst Ratings

RMBL

B. Riley Securities Downgrades RumbleON to Neutral, Maintains Price Target to $7

Truist Securities analyst Anthony Hau maintains Plymouth Industrial REIT (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PLYM#NYSE">PLYM</a>) with a Buy and lowers the price target from $27 to $22.

PLYM

Truist Securities Maintains Buy on Plymouth Industrial REIT, Lowers Price Target to $22

Truist Securities analyst Anthony Hau maintains Global Net Lease (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GNL#NYSE">GNL</a>) with a Hold and lowers the price target from $8.5 to $8.

Truist Securities Maintains Hold on Global Net Lease, Lowers Price Target to $8

Truist Securities analyst Anthony Hau maintains Whitestone REIT (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WSR#NYSE">WSR</a>) with a Buy and raises the price target from $15 to $16.

Truist Securities Maintains Buy on Whitestone REIT, Raises Price Target to $16

Truist Securities analyst Anthony Hau maintains Equinix (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/EQIX#NASDAQ">EQIX</a>) with a Buy and raises the price target from $935 to $1090.

EQIX

Truist Securities Maintains Buy on Equinix, Raises Price Target to $1090

Truist Securities analyst David Macdonald maintains RadNet (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RDNT#NASDAQ">RDNT</a>) with a Buy and raises the price target from $80 to $94.

RDNT

Truist Securities Maintains Buy on RadNet, Raises Price Target to $94

Deep-pocketed investors have adopted a bearish approach towards American Express (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AXP#NYSE">AXP</a>), and it's something market players shouldn't ignore. Our tracking of public options records at Benzinga unveiled this significant move today. The identity of these investors remains unknown, but such a substantial move in AXP usually suggests something big is about to happen.
We gleaned this information from our observations today when Benzinga's options scanner highlighted 14 extraordinary options activities for American Express. This level of activity is out of the ordinary.
The general mood among these heavyweight investors is divided, with 28% leaning bullish and 42% bearish. Among these notable options, 3 are puts, totaling $313,083, and 11 are calls, amounting to $515,858.
<h3>What's The Price Target?</h3>
After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $220.0 and $370.0 for American Express, spanning the last three months.
<h3>Insights into Volume &amp; Open Interest</h3>
Looking at the volume and open interest is a powerful move while trading options. This data can help you track the liquidity and interest for American Express's options for a given strike price. Below, we can observe the evolution of the volume and open interest of calls and puts, respectively, for all of American Express's whale trades within a strike price range from $220.0 to $370.0 in the last 30 days. 
<h3>American Express Option Volume And Open Interest Over Last 30 Days</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1732904173_0.png" alt="Options Call Chart" />
<h3>Biggest Options Spotted:</h3>

<table>
<thead>
<tr>
<th>Symbol</th>
<th>PUT/CALL</th>
<th>Trade Type</th>
<th>Sentiment</th>
<th>Exp. Date</th>
<th>Ask</th>
<th>Bid</th>
<th>Price</th>
<th>Strike Price</th>
<th>Total Trade Price</th>
<th>Open Interest</th>
<th align="right">Volume</th>
</tr>
</thead>
<tbody>
<tr>
<td>AXP</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>01/17/25</td>
<td>$65.45</td>
<td>$63.7</td>
<td>$63.7</td>
<td>$370.00</td>
<td>$248.4K</td>
<td>0</td>
<td align="right">40</td>
</tr>
<tr>
<td>AXP</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>01/16/26</td>
<td>$34.1</td>
<td>$33.9</td>
<td>$33.9</td>
<td>$320.00</td>
<td>$81.3K</td>
<td>34.7K</td>
<td align="right">30</td>
</tr>
<tr>
<td>AXP</td>
<td>CALL</td>
<td>TRADE</td>
<td>NEUTRAL</td>
<td>11/29/24</td>
<td>$86.85</td>
<td>$83.9</td>
<td>$85.38</td>
<td>$220.00</td>
<td>$68.3K</td>
<td>15</td>
<td align="right">15</td>
</tr>
<tr>
<td>AXP</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>11/29/24</td>
<td>$16.5</td>
<td>$16.05</td>
<td>$16.5</td>
<td>$290.00</td>
<td>$59.4K</td>
<td>186</td>
<td align="right">47</td>
</tr>
<tr>
<td>AXP</td>
<td>CALL</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>01/17/25</td>
<td>$15.0</td>
<td>$14.4</td>
<td>$14.56</td>
<td>$300.00</td>
<td>$58.2K</td>
<td>5.0K</td>
<td align="right">60</td>
</tr>
</tbody>
</table>

<h3>About American Express</h3>
American Express is a global financial institution, operating in about 130 countries, that provides consumers and businesses charge and credit card payment products. The company also operates a highly profitable merchant payment network. Since 2018, it has operated in three segments: global consumer services, global commercial services, and global merchant and network services. In addition to payment products, the company's commercial business offers expense management tools, consulting services, and business loans.
In light of the recent options history for American Express, it's now appropriate to focus on the company itself. We aim to explore its current performance.
<h3>Present Market Standing of American Express</h3>
<ul>
<li>Currently trading with a volume of 1,197,271, the AXP's price is up by 0.14%, now at $304.68. </li>
<li>RSI readings suggest the stock is currently may be overbought.</li>
<li>Anticipated earnings release is in 56 days.</li>
</ul>
Turn $1000 into $1270 in just 20 days?
20-year pro options trader reveals his one-line chart technique that shows when to buy and sell. Copy his trades, which have had averaged a 27% profit every 20 days. <a href="https://www.benzinga.com/premium/ideas/options-moneyline-2/?t=Moop1arja3be22op14&amp;utm_source=benzinga-insights">Click here for access</a>.
Trading options involves greater risks but also offers the potential for higher profits. Savvy traders mitigate these risks through ongoing education, strategic trade adjustments, utilizing various indicators, and staying attuned to market dynamics. Keep up with the latest options trades for American Express with <a href="https://benzinga.grsm.io/register174">Benzinga Pro</a> for real-time alerts.

Options

Markets

Market Whales and Their Recent Bets on AXP Options

Whales with a lot of money to spend have taken a noticeably bullish stance on Broadcom.
Looking at options history for Broadcom (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AVGO#NASDAQ">AVGO</a>) we detected 54 trades.
If we consider the specifics of each trade, it is accurate to state that 42% of the investors opened trades with bullish expectations and 38% with bearish.
From the overall spotted trades, 18 are puts, for a total amount of $699,224 and 36, calls, for a total amount of $2,878,881.
<h3>What's The Price Target?</h3>
After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $72.0 and $194.0 for Broadcom, spanning the last three months.
<h3>Volume &amp; Open Interest Development</h3>
In terms of liquidity and interest, the mean open interest for Broadcom options trades today is 2073.81 with a total volume of 14,722.00.
In the following chart, we are able to follow the development of volume and open interest of call and put options for Broadcom's big money trades within a strike price range of $72.0 to $194.0 over the last 30 days.
<h3>Broadcom Option Activity Analysis: Last 30 Days</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1732904167_0.png" alt="Options Call Chart" />
<h3>Biggest Options Spotted:</h3>

<table>
<thead>
<tr>
<th>Symbol</th>
<th>PUT/CALL</th>
<th>Trade Type</th>
<th>Sentiment</th>
<th>Exp. Date</th>
<th>Ask</th>
<th>Bid</th>
<th>Price</th>
<th>Strike Price</th>
<th>Total Trade Price</th>
<th>Open Interest</th>
<th>Volume</th>
</tr>
</thead>
<tbody>
<tr>
<td>AVGO</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>12/13/24</td>
<td>$5.65</td>
<td>$5.55</td>
<td>$5.65</td>
<td>$165.00</td>
<td>$449.1K</td>
<td>1.6K</td>
<td>2.1K</td>
</tr>
<tr>
<td>AVGO</td>
<td>CALL</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>01/16/26</td>
<td>$33.8</td>
<td>$31.8</td>
<td>$31.8</td>
<td>$150.00</td>
<td>$327.5K</td>
<td>1.5K</td>
<td>103</td>
</tr>
<tr>
<td>AVGO</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>12/13/24</td>
<td>$5.9</td>
<td>$5.8</td>
<td>$5.8</td>
<td>$162.50</td>
<td>$182.7K</td>
<td>153</td>
<td>360</td>
</tr>
<tr>
<td>AVGO</td>
<td>CALL</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>12/20/24</td>
<td>$1.09</td>
<td>$1.05</td>
<td>$1.08</td>
<td>$188.00</td>
<td>$167.4K</td>
<td>1.8K</td>
<td>1.5K</td>
</tr>
<tr>
<td>AVGO</td>
<td>CALL</td>
<td>TRADE</td>
<td>NEUTRAL</td>
<td>12/20/24</td>
<td>$6.25</td>
<td>$6.15</td>
<td>$6.2</td>
<td>$166.00</td>
<td>$161.2K</td>
<td>1.1K</td>
<td>355</td>
</tr>
</tbody>
</table>

<h3>About Broadcom</h3>
Broadcom is the sixth-largest semiconductor company globally and has expanded into various software businesses, with over $30 billion in annual revenue. It sells 17 core semiconductor product lines across wireless, networking, broadband, storage, and industrial markets. It is primarily a fabless designer but holds some manufacturing in-house, like for its best-of-breed FBAR filters that sell into the Apple iPhone. In software, it sells virtualization, infrastructure, and security software to large enterprises, financial institutions, and governments.Broadcom is the product of consolidation. Its businesses are an amalgamation of former companies like legacy Broadcom and Avago Technologies in chips, as well as Brocade, CA Technologies, and Symantec in software.
<h3>Broadcom's Current Market Status</h3>
<ul>
<li>With a volume of 10,305,448, the price of AVGO is up 1.51% at $162.08. </li>
<li>RSI indicators hint that the underlying stock is currently neutral between overbought and oversold.</li>
<li>Next earnings are expected to be released in 13 days.</li>
</ul>
<h3>Professional Analyst Ratings for Broadcom</h3>
1 market experts have recently issued ratings for this stock, with a consensus target price of $200.0.
Turn $1000 into $1270 in just 20 days?
20-year pro options trader reveals his one-line chart technique that shows when to buy and sell. Copy his trades, which have had averaged a 27% profit every 20 days. <a href="https://www.benzinga.com/premium/ideas/options-moneyline-2/?t=Moop1arja3be22op14&amp;utm_source=benzinga-insights">Click here for access</a>. 
&#x2A; Maintaining their stance, an analyst from UBS continues to hold a Buy rating for Broadcom, targeting a price of $200. 
Options trading presents higher risks and potential rewards. Astute traders manage these risks by continually educating themselves, adapting their strategies, monitoring multiple indicators, and keeping a close eye on market movements. Stay informed about the latest Broadcom options trades with real-time alerts from <a href="https://benzinga.grsm.io/register174">Benzinga Pro</a>.

AVGO

What the Options Market Tells Us About Broadcom

Investors with a lot of money to spend have taken a bullish stance on Credo Technology Group (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CRDO#NASDAQ">CRDO</a>).
And retail traders should know.
We noticed this today when the trades showed up on publicly available options history that we track here at Benzinga.
Whether these are institutions or just wealthy individuals, we don't know. But when something this big happens with CRDO, it often means somebody knows something is about to happen.
So how do we know what these investors just did? 
Today, <a href="https://pro.benzinga.com/?utm_source=insights">Benzinga</a>'s options scanner spotted 21 uncommon options trades for Credo Technology Group.
This isn't normal.
The overall sentiment of these big-money traders is split between 47% bullish and 47%, bearish.
Out of all of the special options we uncovered, 13 are puts, for a total amount of $837,019, and 8 are calls, for a total amount of $500,859.
<h3>Projected Price Targets</h3>
Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $45.0 to $65.0 for Credo Technology Group over the recent three months. 
<h3>Volume &amp; Open Interest Trends</h3>
In terms of liquidity and interest, the mean open interest for Credo Technology Group options trades today is 436.0 with a total volume of 19,698.00.
In the following chart, we are able to follow the development of volume and open interest of call and put options for Credo Technology Group's big money trades within a strike price range of $45.0 to $65.0 over the last 30 days.
<h3>Credo Technology Group Option Volume And Open Interest Over Last 30 Days</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1732904162_0.png" alt="Options Call Chart" />
<h3>Biggest Options Spotted:</h3>

<table>
<thead>
<tr>
<th>Symbol</th>
<th>PUT/CALL</th>
<th>Trade Type</th>
<th>Sentiment</th>
<th>Exp. Date</th>
<th>Ask</th>
<th>Bid</th>
<th>Price</th>
<th>Strike Price</th>
<th>Total Trade Price</th>
<th>Open Interest</th>
<th>Volume</th>
</tr>
</thead>
<tbody>
<tr>
<td>CRDO</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>12/20/24</td>
<td>$3.3</td>
<td>$3.0</td>
<td>$3.06</td>
<td>$45.00</td>
<td>$222.6K</td>
<td>300</td>
<td>803</td>
</tr>
<tr>
<td>CRDO</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>12/20/24</td>
<td>$4.2</td>
<td>$4.1</td>
<td>$4.2</td>
<td>$50.00</td>
<td>$133.5K</td>
<td>979</td>
<td>318</td>
</tr>
<tr>
<td>CRDO</td>
<td>CALL</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>12/20/24</td>
<td>$7.4</td>
<td>$6.4</td>
<td>$6.6</td>
<td>$45.00</td>
<td>$132.0K</td>
<td>1.2K</td>
<td>208</td>
</tr>
<tr>
<td>CRDO</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>12/20/24</td>
<td>$3.6</td>
<td>$3.4</td>
<td>$3.6</td>
<td>$45.00</td>
<td>$100.0K</td>
<td>300</td>
<td>1.5K</td>
</tr>
<tr>
<td>CRDO</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>12/20/24</td>
<td>$3.5</td>
<td>$3.5</td>
<td>$3.5</td>
<td>$45.00</td>
<td>$85.0K</td>
<td>300</td>
<td>1.3K</td>
</tr>
</tbody>
</table>

<h3>About Credo Technology Group</h3>
Credo Technology Group Holding Ltd delivers high-speed solutions to break bandwidth barriers on every wired connection in the data infrastructure market. It provides secure, high-speed connectivity solutions that deliver improved power and cost efficiency as data rates and corresponding bandwidth requirements increase exponentially throughout the data infrastructure market. It has a geographic presence in Hong Kong, the United States, Mainland China, Taiwan, and the Rest of the World.
After a thorough review of the options trading surrounding Credo Technology Group, we move to examine the company in more detail. This includes an assessment of its current market status and performance.
<h3>Credo Technology Group's Current Market Status</h3>
<ul>
<li>With a volume of 2,802,188, the price of CRDO is up 7.11% at $48.96. </li>
<li>RSI indicators hint that the underlying stock may be approaching overbought.</li>
<li>Next earnings are expected to be released in 3 days.</li>
</ul>
Turn $1000 into $1270 in just 20 days?
20-year pro options trader reveals his one-line chart technique that shows when to buy and sell. Copy his trades, which have had averaged a 27% profit every 20 days. <a href="https://www.benzinga.com/premium/ideas/options-moneyline-2/?t=Moop1arja3be22op14&amp;utm_source=benzinga-insights">Click here for access</a>.
Trading options involves greater risks but also offers the potential for higher profits. Savvy traders mitigate these risks through ongoing education, strategic trade adjustments, utilizing various indicators, and staying attuned to market dynamics. Keep up with the latest options trades for Credo Technology Group with <a href="https://benzinga.grsm.io/register174">Benzinga Pro</a> for real-time alerts.

CRDO

A Closer Look at Credo Technology Group's Options Market Dynamics

Morgan Stanley analyst Brian Nowak maintains Despegar.com (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DESP#NYSE">DESP</a>) with a Overweight and raises the price target from $17 to $21.

DESP

Morgan Stanley Maintains Overweight on Despegar.com, Raises Price Target to $21

On a <a href="https://omny.fm/shows/suze-ormans-women-and-money/ask-kt-suze-anything-hope-for-those-who-feel-hopel">recent episode</a> of Women &amp; Money, financial expert <a href="https://www.benzinga.com/24/11/42155424/suze-orman-says-this-holiday-choice-could-make-or-break-your-budget-heres-why-you-must-decide-now">Suze Orman</a> tackled a heartfelt question from Sabrina, a listener grappling with a challenging situation involving her 85-year-old mother. The question raised concerns about protecting elderly parents with dementia, particularly when they enjoy activities like gambling or other activities that carry financial risks.&nbsp;
Don't Miss:
<ul>
<li>Can you guess how many Americans successfully retire with $1,000,000 saved?<a href="https://www.benzinga.com/money/1milsaved"> The percentage may shock you</a>.</li>
<li>Many are using this retirement income calculator to check if they&#8217;re on pace —<a href="https://www.benzinga.com/money/how-do-i-calculate-my-retirement-income-adv"> here&#8217;s a breakdown on what&#8217;s behind this formula.</a></li>
</ul>
Here's how Orman broke down the problem and offered actionable advice.
Sabrina shared that her mother, who has dementia, enjoys visiting casinos. Recently, her mother went with a group and needed help from someone to withdraw money from an ATM. The fact that someone knew her mother's PIN alarmed Sabrina and her brother, raising concerns about <a href="https://www.benzinga.com/personal-finance/24/10/41659628/i-am-the-financial-power-of-attorney-but-they-dont-tell-me-anything-woman-seeks-suze-ormans-advi">financial exploitation</a>.
Additionally, Sabrina revealed she had removed $25,000 from her mother's account, leaving $5,000 to limit potential losses – but she's worried she made a mistake and didn't leave her mother with enough money, considering her gambling habits.
See Also: <a href="https://www.benzinga.com/money/62-years-old-with-1-mil-saved">I&#8217;m 62 Years Old And Have $1.2 Million Saved. Is This Enough to Retire Stress-Free?</a>
She had her mother's permission to keep the money safe for her future assisted living costs, but she was unsure how to manage it moving forward. Her first thought was a high-yield savings account, but she also wanted to avoid any tax implications of putting the money in her name.&nbsp;
Orman reassured Sabrina, emphasizing that her proactive approach was wise. "Don't fear that you made a mistake," Orman said. "If anything, I would have told you to take out probably even more than that."&nbsp;
She explained that removing significant funds was a protective measure, ensuring the money could be used for necessary expenses rather than being gambled away.
Orman suggested leaving her mother only $1,000 in the account and providing additional funds as needed. This approach limits risks while still allowing her mother to enjoy activities like visiting the casino. "She obviously gets enjoyment out of doing that," Orman acknowledged, emphasizing the importance of maintaining her mother's quality of life.
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To manage the withdrawn funds, Orman recommended opening a joint high-yield savings account in Sabrina's and her mother's names. This solution keeps the money accessible for her mother's future needs while simplifying tax implications. Since the account would use her mother's tax ID, it minimizes Sabrina's tax liability.
Additionally, Orman stressed the importance of controlling access. "You don&#8217;t give her checks; you don&#8217;t give her an ATM or debit card. She cannot access the money," Orman advised.&nbsp;
While protecting elderly parents is crucial, Orman noted that preserving their sense of independence and happiness is equally important. She shared an anecdote about her mother, who enjoyed daily outings to Hooters with her driver. When Orman restricted this activity for financial reasons, her mother became deeply upset. Over time, they struck a balance that allowed her mother to enjoy life without compromising <a href="https://www.benzinga.com/personal-finance/24/09/40764819/think-youre-financially-secure-heres-how-much-people-say-it-takes-to-feel-secure-and-what-you-re">financial security</a>.
For Sabrina's mother, Orman recommended allocating a specific amount – such as $250 a week or month, whatever fits her budget – for casino visits. This allowance helps safeguard against excessive spending while ensuring her mother continues to find joy in her favorite pastime.
Orman's guidance underscores a critical lesson: protecting elderly parents with dementia requires careful financial planning, clear boundaries and empathy. By managing access to funds and setting limits, caregivers can safeguard their loved ones&#8217; <a href="https://www.benzinga.com/personal-finance/24/06/39144759/why-1-in-3-americans-report-having-no-financial-concerns-whatsoever">financial well-being</a> without sacrificing what makes them happy.
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