Put Options on CNK on 3/2/2020

Cinemark Holdings, Inc. (CNK) engages in the motion picture exhibition business.

As of December 31, 2019, it operated 554 theatres with 6,132 screens in 42 states of the United States, as well as in Brazil, Argentina, Chile, Colombia, Peru, Ecuador, Honduras, El Salvador, Nicaragua, Costa Rica, Panama, Guatemala, Bolivia, Curaçao, and Paraguay. 

On February 21st, Cinemark Holdings (CNK) reported Quarter December 2019 earnings of $0.22 per share on revenue of $788.8 million. The consensus earnings estimate was $0.45 per share on revenue of $790.0 million. Revenue fell 1.2% compared to the same quarter a year ago. Since then share have formed a bearish "flag." Lower share prices are expected.

Last Trade: $25.96

Trading Range: $23.70 to 43.51

Trade Buy 1 March $25.00 Put at $1.20 For a net debit of $1.20 Profit/Loss Analysis Breakeven at $23.80 Maximum profit is unbounded Maximum loss is ($120.00) at strike of $25.00 Closing Summary Sold 1 March $25.00 Put at $10.00

Position closed on 3/12/2020 at price of $10.00 with a 733.33% gain in 10 days.

Updates

3/12/2020 3:53:50 PM

CNK $25 Put Optios closed at $10.00

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