Options Trade Of The Day: UPST $345 Put for October 29
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UNLOCK OFFER- UPST stock continues to surge as retail loves it.
- Play a pre-results pullback with a put option.
- Two-week put option just ahead of November 9 results.
This advice is going against the crazy strong trend here, but we feel at some stage this thing has got to slow down even though we like it long term. Thursday saw another 10% spike, and the seemingly endless run continues. At some stage, a pullback will ensue. To take advantage of this, we look at the $345 put expiring in two weeks on October 29. Results are out the week after for UPST in November 9, so we are banking on some profit-taking ahead of the results.
$345 puts for October 29 closed at $8.80 on Thursday.
- UPST stock continues to surge as retail loves it.
- Play a pre-results pullback with a put option.
- Two-week put option just ahead of November 9 results.
This advice is going against the crazy strong trend here, but we feel at some stage this thing has got to slow down even though we like it long term. Thursday saw another 10% spike, and the seemingly endless run continues. At some stage, a pullback will ensue. To take advantage of this, we look at the $345 put expiring in two weeks on October 29. Results are out the week after for UPST in November 9, so we are banking on some profit-taking ahead of the results.
$345 puts for October 29 closed at $8.80 on Thursday.
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