Call Spread on DIS on 8/17/2020

The Walt Disney Company (DIS) operates as an entertainment company worldwide.

The company's Media Networks segment operates domestic cable networks under the Disney, ESPN, Freeform, FX, and National Geographic brands; and television broadcast network under the ABC brand, as well as eight owned domestic television stations. This segment is also involved in the television production and distribution; and operation of National Geographic magazines. Its Parks, Experiences and Products segment operates theme parks and resorts, such as Walt Disney World Resort in Florida; Disneyland Resort in California; Disneyland Paris; Hong Kong Disneyland Resort; and Shanghai Disney Resort; Disney Cruise Line, Disney Vacation Club, National Geographic Expeditions, and Adventures by Disney; and Aulani, a Disney resort and spa in Hawaii, as well as licenses its intellectual property to a third party for the operations of the Tokyo Disney Resort in Japan.

The company's Studio Entertainment segment produces and distributes motion pictures under the Walt Disney Pictures, Twentieth Century Fox, Marvel, Lucasfilm, Pixar, Fox Searchlight Pictures, and Blue Sky Studios banners; develops, produces, and licenses live entertainment events; produces and distributes music; and provides post-production services, including visual and audio effects.

Its Direct-To-Consumer & International segment operates international television networks and channels comprising Disney, ESPN, Fox, National Geographic, Star, and Other India Channels; direct-to-consumer streaming services consisting of Disney +, ESPN+, Hotstar, and Hulu; and operates branded apps and Websites, such as Disney Movie Club and Disney Digital Network, as well as provides streaming technology support services.

Shares have formed a bullish "flag" following the company's latest quarterly report. The Company reported 3rd Quarter June 2020 earnings of $0.08 per share on revenue of $11.8 billion. The consensus estimate was a loss of $0.43 per share on revenue of $15.9 billion.

We will be trading September 4th Call options

Last Trade: $130.53

Trading Range: $79.07 to $153.41

Trade Buy 1 September $129.00 Call at $4.10 Sell 1 September $136.00 Call at $1.35 For a net debit of $2.75 Profit/Loss Analysis Breakeven at $131.75 Maximum profit is $425.00 at strike of $136.00 Maximum loss is ($275.00) at strike of $129.00 Closing Summary Sold 1 September $129.00 Call at $7.25 Bought 1 September $136.00 Call at $1.25

Position closed on 9/3/2020 at price of $6.00 with a 118.18% gain in 17 days.

Updates

9/3/2020 10:10:03 AM

We are closing DIS call spread

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