Kevin Kelly, the chief investment officer at Recon Capital Partners, spoke on Bloomberg Markets about an options strategy in Paypal Holdings Inc PYPL ahead of earnings.
Kelly said the company has digital asset properties that are irreplaceable and he finds it surprising the stock is trading flat since its spin off. He added that the stock is underappreciated.
The company is going to report earnings on July 21 and Kelly thinks it would be a good idea to sell the July 29, 37.50 strike put for $0.65. The trade is going to start to lose money if the stock drops below $36.85 or 6.40 percent lower from the current price.
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