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Put Options on SNY on 8/15/2022

Sanofi (SNY) engages in the research, development, manufacture, and marketing of therapeutic solutions in the United States, Europe, and internationally. Stockwinners

It operates through three segments: Pharmaceuticals, Vaccines, and Consumer Healthcare.

The company provides specialty care products, including human monoclonal antibodies; products for multiple sclerosis, neurology, other inflammatory diseases, immunology, rare diseases, oncology, and rare blood disorders; medicines for diabetes; and cardiovascular and established prescription products.

It also supplies poliomyelitis, pertussis, and hib pediatric vaccines; and influenza, adult booster, meningitis, and travel and endemic vaccines.

In addition, the company offers allergy, cough and cold, pain, liver care, physical and mental wellness, probiotics, digestive, and nutritional products; and other products, such as daily body lotions, anti-itch products, moisturizing and soothing lotions, and body and foot creams, as well as powders for eczema. Further, it has various pharmaceutical products and vaccines in development stage.

Shares have formed a bearish flag following recent events. The new law passed by Congress intends to limit drugs which is a negative for the sector. In addition, lawsuits from Zantac are going to court. More than 2,000 Zantac-related legal cases have so far been filed in the United States.  Zantac, originally marketed by GSK, has been sold by several companies since the loss of patent exclusivity in the late 1990s, including Pfizer, Boehringer Ingelheim and Sanofi. Lower share prices are expected.

 

We will be trading September Puts

 

Last Trade: $44.37

Trading Range: $41.98 - $58.10

Trade

  • Buy 1 September $45.00 Put at $1.50
  • For a net debit of $1.50

Profit/Loss Analysis

  • Breakeven at $43.50
  • Maximum profit is unbounded
  • Maximum loss is ($150.00) at strike of $45.00

Closing Summary

  • Sold 1 September $45.00 Put at $4.20

Position closed on 8/29/2022 at price of $4.20 with a 180.00% gain in 14 days.

Updates

8/29/2022 2:20:26 PM

SNY $45 Sep put closed at $4.20

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