Put Options on SEE on 2/28/2020

Sealed Air Corporation (SEE) provides food safety and security, and product protection solutions worldwide.

It operates in two segments, Food Care and Product Care.

The Food Care segment offers integrated packaging materials and equipment solutions to provide food safety, shelf life extension, and total cost optimization for perishable food processors in the fresh red meat, smoked and processed meats, poultry, and dairy markets under the Cryovac, Cryovac Grip & Tear, Cryovac Darfresh, Cryovac Mirabella, Simple Steps, and Optidure brands. This segment sells its solutions directly to customers through its sales, marketing, and customer service personnel.

The Product Care segment provides foam, corrugated, molded pulp, and wood packaging solutions to protect goods in shipping for the e-commerce, electronics, transportation, and industrial markets under the Bubble Wrap, Cryovac, Instapak, Jiffy, and Korrvu brands. This segment sells its solutions through supply distributors, as well as directly to fabricators, original equipment manufacturers, contract manufacturers, third-party logistics partners, e-commerce/fulfillment operations, and retail centers. 

Shares have fallen broken below all support and lower share prices are expected.

Last Trade: $32.05

Trading Range: $31.98 - $47.13

Trade Buy 1 March $33.00 Put at $1.00 For a net debit of $1.00 Profit/Loss Analysis Breakeven at $32.00 Maximum profit is unbounded Maximum loss is ($100.00) at strike of $33.00 Closing Summary Sold 1 March $33.00 Put at $1.05

Position closed on 3/3/2020 at price of $1.05 with a 5.00% gain in 4 days.

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