Put Options on GDDY on 7/19/2016

GoDaddy Inc. (GDDY) designs and develops cloud-based technology products for small businesses, Web design professionals, and individuals in the United States and internationally.

The company offers domain name registration product that enables to engage customers at the initial stage of establishing a digital identity; hosting and presence products, including shared Website hosting, Website hosting on virtual dedicated servers and dedicated servers, security, and cloud services and cloud applications.

It also provides Website builder, an online tool that enables customers to build Websites; online store product that allows customers to create their own standalone online store or add one to an existing Website; and search engine visibility product that helps customers get their Websites found on search sites through search engine optimization.

In addition, the company offers business application products consisting of email accounts, Microsoft Office 365, and email marketing. Shares are heading lower in a "downward trading channel." The firm reports its quarterly report on August 3rd. We expect a poor report from the firm. 

We will be trading August 19th Put options.

52-Weeks Trading Range: $21.04 - $35.35

Last Trade: $29.36

Trade Buy 1 August $30.00 Put at $2.10 For a net debit of $2.10 Profit/Loss Analysis Breakeven at $27.90 Maximum profit is unbounded Maximum loss is ($210.00) at strike of $30.00 Closing Summary Sold 1 August $30.00 Put at $0.00

Position closed on 8/20/2016 at price of $0.00 with a -100.00% loss in 32 days.

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