Put Options on XRX on 7/5/2022

Xerox Holdings Corporation (XRX) develops, and sells document management systems and solutions in the United States, Europe, Canada, and internationally. 

It offers workplace solutions, including desktop monochrome, and color and multifunction printers; digital printing presses and light production devices, and solutions; and digital services that leverage workflow automation, personalization and communication software, content management solutions, and digitization services.

The company also provides graphic communications and production solutions; and IT services, end user computing devices, network infrastructure, communications technology, and a range of managed IT solutions, such as technology product support, professional engineering, and commercial robotic process automation.

On April 21, 2022  (XRX) reported a 1st Quarter March 2022 loss of $0.12 per share on revenue of $1.7 billion. The consensus earnings estimate was $0.12 per share on revenue of $1.7 billion. Revenue fell 2.5% compared to the same quarter a year ago. Since then shares have moved lower and are now broken below a major support level. Lower prices are expected. 

We will trade August Options

Last Trade: $14.12

Trading Range: $14.06 to $24.99

Trade Buy 1 August $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 August $15.00 Put at $0.00

Position closed on 8/11/2022 at price of $0.00 with a -100.00% loss in 37 days.

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