Best Stock on the Market

Put Options on PLT on 2/24/2020

bearish flag, $PLTPlantronics, Inc. (PLT) designs, manufactures, and markets various integrated communications and collaborations solutions for corporate customers, small businesses, and individuals worldwide.

Its principal product categories include enterprise headsets, which comprise corded and cordless communication headsets; consumer headsets, such as Bluetooth and corded products for mobile device applications, personal computer, and gaming; voice, video, and content sharing solutions that include Open SIP desktop and conference room phones, and video endpoints designed to work with a range of unified communication and collaboration, unified communication as a service, and video as a service environments, including RealPresence collaboration solutions of infrastructure to endpoints that allows people to connect and collaborate; and support services.

The company sells its products through a sales team, as well as through value-added resellers, integrators, direct marketing resellers, service providers, resellers, retailer, office supply distributors, wireless carriers, catalog and mail order companies, and mass merchants under the Poly, Plantronics, and Polycom brands, as well as RIG sub-brand.

Shares have formed a bearish "flag" following the company's latest quarterly report. Plantronics (PLT) reported 3rd Quarter December 2019 earnings of $0.37 per share on revenue of $384.5 million. The consensus earnings estimate was $0.13 per share on revenue of $402.5 million. Revenue fell 23.4% compared to the same quarter a year ago.

The company said it expects fourth quarter non-GAAP results to range from a loss of $0.36 per share to earnings of $0.19 per share on revenue of $360.0 million to $400.0 million. The current consensus earnings estimate is $0.51 per share on revenue of $432.4 million for the quarter ending March 31, 2020.

 

Last Trade: $14.68

Trading Range: $13.33 to $53.92

Trade

  • Buy 1 March $15.00 Put at $1.10
  • For a net debit of $1.10

Profit/Loss Analysis

  • Breakeven at $13.90
  • Maximum profit is unbounded
  • Maximum loss is ($110.00) at strike of $15.00

Closing Summary

  • Sold 1 March $15.00 Put at $1.55

Position closed on 2/27/2020 at price of $1.55 with a 40.91% gain in 3 days.

Updates

2/27/2020 12:51:38 PM

Closed PLT $15 Put

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