Paper Profits: IP Put Write Packs Premium Before Earnings
IP trades at 36.6, down on crumbling demand and slipping profits. Zacks names it Bear of the Day.
Company reports Q1 2026 earnings April 30. Put expires May 8, 10 days after.
Here is the put write: SELL -1 IP 08 May 26 33.0 PUT Contract @0.96 LMT
Stock closes above 33 on expiration. Keep the 0.96 premium.
Stock closes below 33 on expiration. Keep premium. Assigned 100 shares at 33. Cost basis 32.04.
Trade stats: Win Rate: 100.0. Number of trades: 1. Stock price: 36.6. IV: 46.73. Delta: -0.24. Theta: -0.05. Max Return Pct: 2.92
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