Matt Shapiro's Lyft Options Trade

Matt Shapiro of MWS Capital spoke on Bloomberg Markets about an options strategy in Lyft, Inc. (NASDAQ: LYFT).

See Also: Lyft Analysts Largely Bullish As Quiet Period Ends

The company is going to report earnings in May and Shapiro wants to sell the May 55 put for a credit of $3.30. The trade starts to lose money at $51.70 or 8.24 percent below the closing price on Thursday. If the stock stays above $55 at the May expiration, Shapiro is going to collect the premium.