The Uber rally isn't over

Uber's shares have exploded recently from $30 to $43/share after earnings, and shares could head even higher.  Our last trade on the ridesharing company returned over 300% in just one month, and we closed that trade in Feb 2023.  We're putting on another similar trade now.

With the latest earnings report, we're seeing a strong revenue growth, and believe the company has clear runway to manage expenses and regulatory issues related to compensation and the employee/contractor status of it's drivers.  They are also gaining approval in various international markets to operate, further adding to their arsenal of revenue streams, and don't forget about Uber Freight, which could potentially be unlocked as a spinoff via IPO:

Uber Freight may be on the way to stand-alone company A Bloomberg report says Uber Freight may be a candidate for a spinoff or an IPO. John Kingston FreightWaves

We are selling the July 2023 $40 Puts for $0.61 and buying the same expiration $45 Calls for $1.40, for a net cost of $0.79 for this trade. This is a medium risk trade, since shares could drop eroding the value of our trade and we only have about 35 days until expiration.

Any continued upward move in this stock should yield a very strong return on this option pair.