Put Options on RECN on 4/8/2019

Resources Connection, Inc. (RECN) provides business consulting services under the Resources Global Professionals name in North America, Europe, and the Asia Pacific.

The company offers process transformation and optimization, financial reporting and analysis, technical and operational accounting, and merger and acquisition due diligence and integration services; new accounting standards implementation and remediation support services; and audit readiness, and preparation and response services. It also provides information management services comprising program and project management, business and technology integration, data strategy, and business performance management.

In addition, the company offers corporate advisory, strategic and crisis communications, and restructuring services; and governance, risk, and compliance (GRC) management services that include governance, assessments, auditing and automation of programs managing regulatory compliance, enterprise risk management, internal audits, operational risk management, and data security and privacy services.

Further, it provides strategy development, procurement and supplier management, logistics and materials management, supply chain planning and forecasting, and unique device identification compliance; and change management, organization development and effectiveness, employment engagement, compensation and incentive plan strategies and design, and optimization of human resources technology and operations. Additionally, the company offers legal and regulatory supporting services for commercial transactions, global compliance initiatives, law department operations, and law department business strategy and analytics. It also provides policyIQ, a cloud-based GRC software application.

Shares have formed a bearish "flag" following the company's latest quarterly report. Lower share prices are expected. Resources Connect reported 3rd Quarter February 2019 earnings of $0.20 per share on revenue of $179.5 million. The consensus earnings estimate was $0.22 per share on revenue of $184.0 million.

We will be trading May 17th Put Option

Last Trade: $14.99

Trading Range: $12.72 - $19.50

Trade Buy 1 May $15.00 Put at $0.50 For a net debit of $0.50 Profit/Loss Analysis Breakeven at $14.50 Maximum profit is unbounded Maximum loss is ($50.00) at strike of $15.00 Closing Summary Sold 1 May $15.00 Put at $0.00

Position closed on 5/18/2019 at price of $0.00 with a -100.00% loss in 40 days.

Back to Portfolio