Put Options on TSN on 9/27/2022

Tyson Foods, Inc. (TSN) operates as a food company worldwide.  

It operates through four segments: Beef, Pork, Chicken, and Prepared Foods.

The company processes live fed cattle and live market hogs; fabricates dressed beef and pork carcasses into primal and sub-primal meat cuts, as well as case ready beef and pork, and fully cooked meats; raises and processes chickens into fresh, frozen, and value-added chicken products; and supplies poultry breeding stock; sells specialty products, such as hides and meats.

It also manufactures and markets frozen and refrigerated food products, including ready-to-eat sandwiches, flame-grilled hamburgers, Philly steaks, pepperoni, bacon, breakfast sausage, turkey, lunchmeat, hot dogs, flour and corn tortilla products, appetizers, snacks, prepared meals, ethnic foods, side dishes, meat dishes, breadsticks, and processed meats under the Jimmy Dean, Hillshire Farm, Ball Park, Wright, State Fair, Aidells, and Gallo Salame brands. The company also offers its products under Tyson and ibp brands.

Shares have broken all support levels after company said it continues to expect fiscal 2022 revenue of $52.0 billion to $54.0 billion. The current consensus revenue estimate is $52.70 billion for the year ending September 30, 2022. Lower share prices are expected.

Last Trade: $68.95

Trading Range: $68.59 to $100.72

Trade Buy 1 October $70.00 Put at $2.50 For a net debit of $2.50 Profit/Loss Analysis Breakeven at $67.50 Maximum profit is unbounded Maximum loss is ($250.00) at strike of $70.00 Closing Summary Sold 1 October $70.00 Put at $5.50

Position closed on 10/20/2022 at price of $5.50 with a 120.00% gain in 23 days.

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