Home solar system provider Sunrun (RUN) reported excellent earnings yesterday. Revenue more than doubled from last year, due in part to the acquisition of Vivint. And management said its customer count was above 600,000.
Let’s take advantage of the post-earnings sell-off to initiate a new position on this core stock.
Current Stock Price: $56.20
Action: Sell to open the RUN Nov Monthly (11/19) 55 Put
Current Option Price: $2.10-$2.20
Recommended Limit: Set your initial limit order at $2.15. You can go as low as $1.90, but please don’t start there and always use limit orders.
Expiration: After the close on Friday, Nov. 19
Potential Rate of Return: 3.9% in 15 days, or 95% annualized, if this option expires worthless