Put Options on ZIM on 9/26/2022

ZIM Integrated Shipping Services Ltd. (ZIM) provides container shipping and related services in Israel and internationally. 

It provides door-to-door and port-to-port transportation services for various types of customers, including end-users, consolidators, and freight forwarders.

The company also offers ZIMonitor, a premium reefer cargo tracking service. As of December 31, 2021, it operated a fleet of 118 vessels, which included 110 container vessels and 8 vehicle transport vessels, of which four vessels were owned by it and 114 vessels are chartered-in; and network of 70 weekly lines.

Shares have fallen several key support levels and lower share prices are expected. The company missed it's earnings and revenue. On August 17th, Zim Integrated reported 2nd Quarter June 2022 earnings of $11.07 per share on revenue of $3.4 billion. The consensus earnings estimate was $12.16 per share on revenue of $3.6 billion. 

We will be trading October 21 Put options.

Last Trade: $24.87

Trading Range: $23.96 to $91.23

Trade Buy 1 October $25.00 Put at $2.40 For a net debit of $2.40 Profit/Loss Analysis Breakeven at $22.60 Maximum profit is unbounded Maximum loss is ($240.00) at strike of $25.00 Closing Summary Sold 1 October $25.00 Put at $2.45

Position closed on 10/20/2022 at price of $2.45 with a 2.08% gain in 24 days.

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