Uber (UBER)

May 6, 2021Trade Ideas

Those LYFT June 18, 2021 55 puts should be doing well.

At the moment, the LYFT stock is down another $2.55 to $50.08, and falling.

All after “The Labor Department formally withdrew a Trump administration regulation, which never went into effect, that would have made it easier for companies to classify workers as independent contractors rather than conventional employees covered by federal laws on minimum wage and overtime,” as noted by the Boston Globe.

That, according to Wedbush Securities’ analyst Dan Ives, as quoted by Fortune, could throw “a major wrench in the bull case” for LYFT.

However, LYFT isn’t the only gig economy getting hit on the news.

Uber (UBER) is taking a dive. In fact, UBER is about to break its support level from January 2021. Should that happen, it’s next line of support doesn’t pop up until $40. One way to trade further, expected downside is with the UBER June 18, 2021 45 put.

Sponsored Content

This page contains links to products not offered by MARKETARMOR.COM. In exchange for listing these links, we are likely to receive commission for purchases made through these links.

MARKETARMOR.COM is provided to you for informational purposes only and should not be construed as an offer to buy or sell a particular security or a solicitation of offers to buy or sell a particular security. MARKETARMOR.COM may make available certain information related to trading strategies and stock prices for educational and information purposes only; any information made available should not be construed as an endorsement, recommendation or sponsorship of any company or security.

We do not offer investment advice or advocate the purchase, holding or sale of any security or investment by any user of our materials or viewer of any of information videos. We do not provide any legal, tax, or accounting advice or advice regarding the suitability, profitability, or potential value of any particular interment, security, or informational source. By visiting this site or using the training materials, you acknowledge and agree that any reliance upon the content or data available through MARKETARMOR.COM is at your own sole risk. You are strongly advised to use your own judgment, research, and consult a professional advisor.

The information is generic in nature and not targeted to individuals or individual circumstances. We offer our opinion and not specific advice. No professional relationship is formed by visiting this site, viewing its contents, or by purchasing a specific product or service we offer. No fiduciary relationship has been established, nor will one be established at any time.

Results are not typical. Trading securities may not be suitable for all users of this information. Trading stocks and investing in the stock market is inherently risky. You can lose money trading stocks. Do not invest money you cannot afford to lose. Before deciding to trade, you should ensure that you understand the risks involved and take into account your level of experience. You should seek independent advice, if necessary. You, the visitor to this site and user of our products and services, are solely responsible for any losses, financial or otherwise, as a result of trading stocks. Under all circumstances, you, and not MARKETARMOR.COM, assume the entire cost and all risks involved with trading any stock based on any information procured herein. Any views expressed on this site were prepared based upon the information available at the time such views were expressed. Changed or additional information could cause such views to change. The contributors of this site’s information may have a financial interest in many of the stocks discussed herein.