Today DataDog (DDOG) shares jumped six percent, closing at $89.51 from yesterday’s close of $84.39. Our short position in a put option on DDOG was closed when the market executed at our limit order of $0.50. The put due to expire on October 16th had a strike price of $70 (almost 22% below today’s close). We sold the put on August 24th (we held for 22 days) for $200 which equates to a 2.8% return on the $7,000 (the capital required to purchase shares had the put distributed shares to us); annualized return equated to 47.2%.
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