Put Options on TRIP on 8/21/2023

TripAdvisor, Inc. (TRIP) operates as an online travel company, primarily engages in the provision of travel guidance products and services worldwide. 

The company operates in three segments: Tripadvisor Core, Viator, and TheFork.

The Tripadvisor Core segment offers travel guidance platforms for travelers to discover, generate, and share authentic user-generated content in the form of ratings and reviews for destinations, points-of-interest, experiences, accommodations, restaurants, and cruises.

The Viator's segment provides pure-play experiences online travel agency that evaluates businesses and enables travelers to discover and book tours, activities, and attractions from experience operators.

TheFork segment provides an online marketplace that enables diners to discover and book online reservations at restaurants. 

Shares have formed a bearish flag following it's latest earnings report. Lower share prices are expected. On August 2nd, TRIP reported earnings of $0.36 per share on revenue of $494.00 million for the second quarter ended June 2023. The consensus earnings estimate was $0.41 per share on revenue of $473.16 million. 

We will be trading September 15th put options

Last Trade: $15.35

Trading Range: $14.385 to $27.30

Trade Buy 1 September $16.00 Put at $1.00 For a net debit of $1.00 Profit/Loss Analysis Breakeven at $15.00 Maximum profit is unbounded Maximum loss is ($100.00) at strike of $16.00 Closing Summary Sold 1 September $16.00 Put at $0.25

Position closed on 9/15/2023 at price of $0.25 with a -75.00% loss in 25 days.

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