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SBN Options Idea for April 2021

Market Summary:

The major indices are all trading significantly higher at midday thanks to a slew of positive economic surprises and a batch of bullish corporate earnings reports. UnitedHealth's (UNH) blockbuster quarterly numbers propelled the stock, the sector (XLV), and the Dow to a new all-time high, but the S&P 500 also scored another new record in the face of its overbought momentum readings. While Bank of America (BAC), Citigroup (C), and US Bancorp (USB) also beat on their top and bottom lines, the banking sector turned lower this morning, giving back yesterday's gains.

Suggested Option Trade:

Sell Puts on GoodRx Holdings, Inc. Write(Sell) $35 Puts on GDRX expiring July 16' 21 at $2.55 Credit

  • Trade: Sell ("sell to open") the July 2021 $35 put.

  • Allocation: Size the position according to your portfolio size and how much you're comfortable investing.

  • Price Guidance: Aim to receive a net credit of $2.55 or so.

  • Current Stock Price: $38.20

If GDRX trades over $35 at expiration, we will keep the entire credit at a 100% profit. If it trades below $35 at expiration, we happily own the shares at a net price of $32.45 ($35 - $2.55). You will need to manage the trade till expiration or closure yourself, and no further guidance will be issued. If you need any help, you may reach out to us. Disclaimer: Options trading involves substantial risk. The valuation of stock and options may fluctuate, and as a result, in some cases, members could lose more than their original investment. In no event should the content of this correspondence be construed as an express or an implied promise, guarantee or implication by StockBuzzNow that you will profit or that losses can or will be limited in any manner whatsoever. Past results are no indication of future performance. No guarantee of any kind is implied or possible where projections of future conditions are attempted.

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