The market may be focused on the coronavirus, but that didn't stop an usual
amount of trade activity from occurring in Uber (UBER) options. The ride share company is
known for losing lots of money, but the most recent earnings were quite optimistic. The
CEO expects the company to turn a profit by the end of the year and the fourth quarter
losses were narrower than expected. Someone was inspired by the news and bought 2,400
long-term call spreads that make money above $43.50 all the way up to $60 by next
January. The trade was partially financed by selling puts. If you want to do a similar trade
but cheaper and safer, you can do a narrower call spread and not use the short puts
component of the trade.
If you had followed Jay Soloff’s 2018 trades, with a little luck, you could’ve turned $500 into as much as $678,906. That sounds unbelievable. But you gotta see how it’s possible.
If you can scrounge together $500 in cash, it could’ve been worth a small fortune today. Check out how it could’ve happened for you, click here.