Put Options on TTGT on 11/28/2022

TechTarget, Inc. (TTGT) provides marketing and sales services that deliver business impact for enterprise technology companies in North America and internationally. 

It also provides purchase-intent marketing and sales services for enterprise technology vendors; and customized marketing programs that integrate demand generation and brand advertising techniques.

The company offers online services, including IT Deal Alert, including priority engine, qualified sales opportunities, deal data services; demand solutions, such as white papers, webcasts, podcasts, videocasts, virtual trade shows, and content sponsorships; brand solutions comprise on-network, off-network, and microsites and related formats branding; and custom content creation.

Shares have formed a bearish"flag" after it guided lower. . On November 9th, the company warned it expects fourth quarter revenue of $70.0 million to $72.0 million. The prior consensus revenue estimate was $88.57 million for the quarter ending December 31, 2022.

Lower share prices are expected.

Entry Point: $45.27

Trading Range: $42.00 to $103.39

Trade Buy 1 December $45.00 Put at $1.90 For a net debit of $1.90 Profit/Loss Analysis Breakeven at $43.10 Maximum profit is unbounded Maximum loss is ($190.00) at strike of $45.00 Closing Summary Sold 1 December $45.00 Put at $2.90

Position closed on 12/8/2022 at price of $2.90 with a 52.63% gain in 10 days.

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