Put Options on FNKO on 2/18/2020

Funko, Inc. (FNKO) is a pop culture consumer products company.

The company designs, sources, and distributes licensed pop culture products in the United States, China, Vietnam, and the United Kingdom.

The company offers vinyl, blind-packed miniature, and action figures; and plush products, accessories, apparels, and homewares, as well as bags, purses, and wallets.

The company sells its products to specialty retailers, mass-market retailers, and e-commerce sites; distributors for sale to small retailers; and consumers through its e-commerce business, as well as at specialty licensing and comic book shows, conventions, and exhibitions. 

Shares have formed a bearish "flag" after the company warned of lower earnings. On Feb 5, Funko warned by announcing preliminary fourth quarter results and 2020 guidance that were both below expectations. Sales were below expectations in mature markets, including the US, due to the challenging retail environment as well as softness in sales related to certain tentpole movie releases.

We will be trading March Put Options

Last Trade: $9.71

Trading Range: $8.29 - $27.89

Trade Buy 1 March $10.00 Put at $1.00 For a net debit of $1.00 Profit/Loss Analysis Breakeven at $9.00 Maximum profit is unbounded Maximum loss is ($100.00) at strike of $10.00 Closing Summary Sold 1 March $10.00 Put at $3.00

Position closed on 2/27/2020 at price of $3.00 with a 200.00% gain in 9 days.

Updates

2/27/2020 9:49:26 AM

closing FNKO $10 put options

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