Call Spread on ASAN on 12/27/2021

Asana, Inc. (ASAN) operates a work management platform for individuals, team leads, and executives in the United States and internationally. 

It provides a work management platform as software as service that enables individuals and teams to get work done faster while enhancing employee engagement by allowing everyone to see how their work connects to the mission of an organization.

On December 2nd, it reported a 3rd Quarter October 2021 loss of $0.25 per share on revenue of $100.3 million. The consensus estimate was a loss of $0.27 per share on revenue of $93.9 million. Revenue grew 70.3% on a year-over-year basis.

The company said it expects a fourth quarter non-GAAP loss of $0.28 to $0.27 per share on revenue of $104.5 million to $105.5 million. The current consensus estimate is a loss of $0.27 per share on revenue of $98.74 million for the quarter ending January 31, 2022.

Shares are heading higher in a double bottom formation. Furthermore, Asana disclosed that its CEO Dustin Moskovitz bought 1.25M shares of common stock in a total transaction size of $97.2M on December 20th, boosting his stake by about 10%.

Last Trade: $77.90

Trading Range: $25.41 to $145.78

Trade Buy 1 January $75.00 Call at $8.00 Sell 1 January $92.50 Call at $2.25 For a net debit of $5.75 Profit/Loss Analysis Breakeven at $80.75 Maximum profit is $1,175.00 at strike of $93.00 Maximum loss is ($575.00) at strike of $75.00 Closing Summary Sold 1 January $75.00 Call at $0.00 Bought 1 January $92.50 Call at $0.00

Position closed on 1/14/2022 at price of $0.00 with a -100.00% loss in 18 days.

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