Selling SHAK puts for income.
The restaurant chain recently told investors to expect $1 billion in fourth quarter revenue – a new record for the company. This news sent SHAK sharply higher and after a modest pullback the stock should hold up well for the rest of the quarter. This gives us a great chance to lock in some income with a new put contract that expires in December.
- Sell (to open) 1 SHAK December 17th $80 put
- Limit: $3.10 or more
- The new position will represent roughly 7.9% of our model.
- 15:54 Executed
- Sold 1 SHAK Dec 17th $80 Put @ $3.20