Put Options on OC on 5/12/2020

Owens Corning (OC) produces and sells glass fiber reinforcements and other materials for composites; and residential, commercial, and industrial building materials worldwide.

It operates in three segments: Composites, Insulation, and Roofing.

The Composites segment manufactures, fabricates, and sells glass reinforcements in the form of fiber; and manufactures and sells glass fiber products in the form of fabrics, non-wovens, and other specialized products.

The Insulation segment manufactures and sells fiberglass insulation into residential, commercial, industrial, and other markets for thermal and acoustical applications; and manufactures and sells glass fiber pipe insulation, flexible duct media, bonded and granulated mineral fiber insulation, cellular glass insulation, and foam insulation used in above- and below-grade construction applications.

The Roofing segment manufactures and sells residential roofing shingles, oxidized asphalt materials, and roofing components used in residential and commercial construction, and specialty applications, as well as synthetic packaging materials. 

Shares have run into overhead resistance as shown on the chart and 50-day moving averagel. Lower share prices are expected.

Last Trade: $42.29

52-Week Trading Range: $28.56 - $68.72

Trade Buy 1 June $42.50 Put at $2.50 For a net debit of $2.50 Profit/Loss Analysis Breakeven at $40.00 Maximum profit is unbounded Maximum loss is ($250.00) at strike of $43.00 Closing Summary Sold 1 June $42.50 Put at $6.00

Position closed on 5/14/2020 at price of $6.00 with a 140.00% gain in 2 days.

Updates

5/14/2020 9:56:55 AM

We are taking profits on OC Puts. Closed at $6

Back to Portfolio