Monday.com Stock (MNDY) is soaring higher today, up over $65 on the back of exceptional earnings posted before the open.
They reported earnings of $1.08 per share on revenue of $267.98 million which beat estimates of$0.79 per share on revenue of $261.14 million. The company beat expectations by 20.00% while revenue grew 32.29% year-over-year. The company lifted the outlook for the next several quarters and that has the stock sailing higher. I placed this trade for Feb 21 expiry. There are only monthly options available presently, but I expect we will see weekly options shortly.
Monday.com Stock (MNDY)
TRADE SUMMARY: Credit Put Spread
Date: Mon Feb 10 2025
Equity: Monday.com Stock (MNDY)
Approx Price At Entry: $324.00
Expiry: Feb 21 2025
Next Earnings: NA
Potential Profit: $660.00
Potential Return: 1.3%
Approx. Percent of Protection: 13.6%
TRADE DETAILS:
Short Puts: Sold 10 put contracts for 180 expiry at the $280.00 put strike for $0.70 = $700.00
Long Puts: Bought 10 put contracts for Feb 21 2025 expiry at the $230.00 put strike for $0.04 = ($40.00)
Spread Details: This forms a $50.00 credit put spread returning 1.3% earning $660.00 if held to expiry on Feb 21 2025
Buy To Close Early Offer: I am offering $0.30 to start and will reduce that amount as the trade moves toward expiry on Feb 21 2025
TRADE STATS:
Put Strike Sold: $280.00
Potential Profit: $660.00
Potential Return: 1.3%
Credit Put Spread Size $50.00
Approx. Percent Of Protection: 13.6%
Equity Would Have To Fall To Reach Short Put: $44.00
Capital In Use: $50,000.00
Disclaimer: No commissions are taken into account in these trades. Remember do your own due diligence. I am not a financial planner or advisor and have no financial accreditations. Nothing you read are recommendations. FullyInformed.com is for educational and entertainment purposes only.
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