Put Options on STX on 5/9/2016

Seagate Technology Public Limited Company (STX) designs, manufactures, and sells electronic data storage products in the Asia Pacific, the Americas, and EMEA countries.

It provides hard disk drives, solid state hybrid drives, solid state drives, PCIe cards, and serial advanced technology architecture controllers that are designed for enterprise servers and storage systems in mission critical and nearline applications; for client compute applications comprising desktop and mobile computing; and for client non-compute applications, such as digital video recorders, personal data backup systems, portable external storage systems, digital media systems, and surveillance systems.

The company also provides storage subsystems and high performance computing solutions, as well as data storage services, including online backup, data protection, and recovery solutions for small to medium-sized businesses. In addition, it ships external backup storage solutions under its Backup Plus and Expansion product lines, as well as under the Samsung and LaCie brand names.

Shares have formed a bearish "flag" after the company reported weak earnings and lowered its guidance going forward. Lower share prices are expected for this stock.

We will trade May 20th Put Options.

52-Weeks Trading Range: $18.71 - $57.88

Last Trade: $18.90

Trade Buy 1 May $20.00 Put at $1.40 For a net debit of $1.40 Profit/Loss Analysis Breakeven at $18.60 Maximum profit is unbounded Maximum loss is ($140.00) at strike of $20.00 Closing Summary Sold 1 May $20.00 Put at $0.00

Position closed on 5/20/2016 at price of $0.00 with a -100.00% loss in 10 days.

Updates

5/20/2016 9:54:25 AM

STX put options closed.

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