Selling PLCE puts for income.
Retail apparel stocks are trading higher after a successful IPO for Allbirds. Consumers have plenty of cash to spend this holiday season. For retailers with inventory to sell, that means higher margins and a profitable fourth quarter. PLCE is moving sharply higher and the put contracts have an attractive amount of premium. This gives us a chance to set up another lucrative income play with extra margin for safety.
- Sell (to open) 1 PLCE December 17th $90 put
- Limit: $5.20 or more
- The new position will represent roughly 8.9% of our model.
- 13:34 Executed
- Sold 1 PLCE Dec 17th $90 Put @ $5.20