Put Options on APPS on 3/20/2023

Digital Turbine, Inc. (APPS) operates a mobile growth platform for advertisers, publishers, carriers, and device original equipment manufacturers (OEMs). 

The company operates through three segments: On Device Media, In App Media – AdColony, and In App Media – Fyber.

Its application media platform delivers mobile applications to various publishers, carriers, OEMs, and devices; and content media platform offers news, weather, sports, and other content, as well as programmatic advertising, and sponsored and editorial content media.

The company also provides an end-to-end platform for brands, agencies, publishers, and application developers to deliver advertising to consumers on mobile devices; and a platform that allows mobile application developers and digital publishers to monetize their content through display, native, and video advertising. 

On February 8th, APPS reported 3rd Quarter December 2022 earnings of $0.28 per share on revenue of $162.3 million. The consensus earnings estimate was $0.37 per share on revenue of $186.2 million. Revenue fell 56.8% compared to the same quarter a year ago.

The company said it expects fiscal 2023 non-GAAP earnings of $1.15 to $1.20 per share on revenue of $660.0 million to $670.0 million. Lower share prices are expected.

We will be trading April 14th Puts

Last Trade: $10.23

Trading Range: $9.13 to $47.47

Trade Buy 1 April $10.50 Put at $0.85 For a net debit of $0.85 Profit/Loss Analysis Breakeven at $9.65 Maximum profit is unbounded Maximum loss is ($85.00) at strike of $11.00 Closing Summary Sold 1 April $10.50 Put at $0.00

Position closed on 4/21/2023 at price of $0.00 with a -100.00% loss in 32 days.

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