Call Options on META on 2/5/2024

Meta Platforms, Inc. (META) engages in the development of products that enable people to connect and share with friends and family through mobile devices, personal computers, virtual reality headsets, and wearables worldwide.

It operates in two segments, Family of Apps and Reality Labs.

The Family of Apps segment offers Facebook, which enables people to share, discuss, discover, and connect with interests; Instagram, a community for sharing photos, videos, and private messages, as well as feed, stories, reels, video, live, and shops; Messenger, a messaging application for people to connect with friends, family, communities, and businesses across platforms and devices through text, audio, and video calls; and WhatsApp, a messaging application that is used by people and businesses to communicate and transact privately.

The Reality Labs segment provides augmented and virtual reality related products comprising consumer hardware, software, and content that help people feel connected, anytime, and anywhere.

The company was formerly known as Facebook, Inc. and changed its name to Meta Platforms, Inc. in October 2021.

The company was incorporated in 2004 and is headquartered in Menlo Park, California.

On Thursday, February 1, Meta Platforms, Inc. reported earnings of $5.33 per share on revenue of $40.11 billion for the fourth quarter ended December 2023. The consensus earnings estimate was $4.83 per share on revenue of $38.82 billion. The company beat expectations by 6.60% while revenue grew 24.70% on a year-over-year basis.

The company said it expects first quarter revenue of $34.50 billion to $37.00 billion. The current consensus revenue estimate is $33.72 billion for the quarter ending March 31, 2024.

After a strong earnings report, share prices should head higher.

We will be trading February 16th call options.

Last Trade: $474.99

Trading Range: $167.66 - $485.96

Trade Buy 1 February $510.00 Call at $2.45 For a net debit of $2.45 Profit/Loss Analysis Breakeven at $512.45 Maximum profit is unbounded Maximum loss is ($245.00) at strike of $510.00 Closing Summary Sold 1 February $510.00 Call at $0.00

Position closed on 2/26/2024 at price of $0.00 with a -100.00% loss in 21 days.

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