Timmay! said:
Anyone still own FUBO?
My analysis showed either bankruptcy, a legal or market breakthrough, or being acquired as the likeliest near term outcomes for FUBO. I bought a August expiration strangle ($5C, $2P) a few months ago. The remaining puts (I've sold a few when they were up 200%) are up 138%, and the calls are down 83%. Net/net, I'm up about 50% on the trade so far. I have an order to sell more puts if I hit my target (I think it's unlikely they declare bankruptcy before August (which would be the big win on the put side). Best case, I sell all the puts at a nice profit soon (within a month?), and somehow FUBO rallies or is acquired for more than $5 sometime before August (sooner the better).
I know - complicated, but it works for me.
A refresher on this particular option trade - - you would ONLY do this if you expect a large move in one direction or the other, and you're not sure which one. I usually start slowly unwinding it piecemeal if one side is up over 100%. The amount of the "investment" is an amount I am ready to risk losing 100% of it (which happens fairly often), so it's a purely speculative thing.