Trade Alert - (UBER) April 23, 2024

When John identifies a strategic exit point, he will send you an alert with specific trade information as to what security to sell, when to sell it, and at what price. Most often, it will be to TAKE PROFITS, but, on rare occasions, it will be to exercise a STOP LOSS at a predetermined price to adhere to strict risk management discipline.

Tech Alert - Uber Technologies, Inc. (UBER) – BUY

Buy Uber Technologies, Inc. (UBER) May 2025 $82-$87 in-the-money vertical BEAR PUT spread at $4.20

Opening Trade

4-23-2024

expiration date: May 16, 2025

Portfolio weighting: 10%

Number of Contracts = 23 contracts

Buying Uber (UBER) put spread right here with their earnings coming up.

I believe the American consumer isn’t that strong and Uber will most likely guide lower for future forecasts.

Today’s price action is indicative of where this stock is headed in the short-term.

Don’t pay more than $4.30 – prices are highly volatile in this name this morning for good reason.

Here are the specific trades you need to execute this position:

Buy to Open 23 May 2025 (UBER) $87 puts at…………...$13.50

Sell to short 23 May 2025 (UBER) $82 puts at………….....$9.30

Net Cost:……………………..…….………..…….........................$4.20

Potential Profit: $5 - $4.20 = $.80

(23 X 100 X $.80) = $1,840 or 19.05% in 23 days

If you are uncertain about how to execute a bear put options spread, please watch my training video by clicking here.

The best execution can be had by placing your bid for the entire spread in the middle market and waiting for the market to come to you. The difference between the bid and the offer on these deep-in-the-money spread trades can be enormous.

Don’t execute the legs individually or you will end up losing much of your profit. Spread pricing can be very volatile on expiration months farther out.

Keep in mind that these are ballpark prices at best. After the alerts go out, prices can be all over the map.

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