Mosaic (MOS) popped 6% yesterday after the company announced its third-quarter results despite revenue and earnings misses. However, Mosaic’s net income more than doubled from a year ago to $841.7 million, or $2.42 a share.
The stock is giving back some of the post-earnings gains today and volatility levels remain elevated. Let’s sell a put to take advantage of this and reduce our net debit on the position.
You can enter today’s trade even if you were not in the previous one. Just be aware that we will be managing and tracking it based on the ongoing position.
Current Stock Price: $51.46
Net Debit $5.95
Action: Sell to open the MOS Nov Monthly (11/18) 50 Put for around $1.11, but adjust as needed to sell a put today
New Net Debit: $4.84