One stock surging higher than PLTR in today’s early trading is FuboTV (FUBO). As luck would have it, we also had a short position in two put option contracts on FUBO (strike:$30; expiration: 19Feb2021). Though our limit order was due to buy to close at two dollars per share, our position closed for $333.37. Thank you, JP Morgan. With the close of our position we netted 3.1% on the $6,000 of collateral required to sell the contracts.
As I noted in an earlier post, we’ve sold and repurchased two other positions in FUBO during the 34 days we held the contracts closed this morning. FUBO has had a wild ride over the past six months, but it is a recommendation in one of my favorite newsletters so I plan to watch the stock for opportunities to enter a small position or sell cash-covered puts.
Source: QuesTrade; Accessed 10:20 AM on 25Jan2021