<center>![](https://cdn.steemitimages.com/DQmSUf1A8aJ1sQW9mA855WAUGueFT9ykU1NFDFu8Wk66hsc/image.png)</center> NetApp, formerly Network Appliance Inc., is a company in the computer technologies industry specializing in data storage hardware and associated management software. NetApp was founded in 1992 as a producer of small to midrange file servers. It gained early traction when users found that they could consolidate multiple Windows file servers down to one NetApp box. Several years ago, NetApp made a strategically significant decision to follow their users to the public cloud. NetApp built options that gave its users NetApp storage in the cloud. In 2014, NetApp launched its Data Fabric vision in response to their customers’ need to have a more unified view of enterprise data across multiple internal and external data centers. ![](https://cdn.steemitimages.com/DQmNzvQ7mK1UDxCBUy5vqqbr1ogHEbnCekg5BfDrkzJ2YzP/image.png) Today NetApp has multiple Petabytes of NetApp-managed data in AWS, Microsoft Azure and Google Cloud. In the last three years, NetApp earnings / shave has grown 81% per year which has translated into a stock appreciation of 60%+ over that same time period. However, in the last quarter, the stock price has dropped 30%. And there might be more pain ahead, when NetApp announces quarterly earnings this week which is expected to deliver a year-over-year decline in earnings on lower revenues. So, if NetApp does in fact have more downside risk, a great way to play NetApp is through a calendar spread. <blockquote> A calendar spread is an options or futures spread established by simultaneously entering a long and short position on the same underlying asset at the same strike price but with different delivery months. The typical options trade comprises the sale of an option (call or put) with a near-term expiration date, and the simultaneous purchase of an option (call or put) with a longer-term expiration. Both options are of the same type and use the same strike price. The ideal market move for profit would be a steady to slightly declining underlying asset price during the life of the near-term option followed by a strong move higher during the life of the far-term option, or a sharp move upward in implied volatility. </blockquote> <center><a href=https://www.investopedia.com/terms/c/calendarspread.asp>Source</a></center> Thus, based on the monthly chart, with price entering the monthly supply zone, ![](https://cdn.steemitimages.com/DQmTGxgySKxQFqtKHczo2ZUBCiF3GzUefTKbVmbjiQhaSUj/image.png) I bought two Jan 2021 $50 strike put options for $1231 and sold two Nov $50 strike put options for $74. I looking to sell the front months, each month in attempt to lower my risk with the hope that price will steadily decline to my price target at $50. But that could all change after earnings, in which I may have to make some adjustments. This post is my personal opinion. I’m not a financial advisor, this isn't financial advise. Do your own research before making investment decisions. <center>https://steemitimages.com/DQmRhDtjokAZnGKi4QwheqksKTFo6m4fsjMYsNNrsitC1xk/upvote%20banner3.gif</center>
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To listen to the audio version of this article click on the play image. [![](https://s18.postimg.org/51o0kpijd/play200x46.png)](http://ec2-52-72-169-104.compute-1.amazonaws.com/rollandthomas__a-calendar-spread-on-netapp.mp3) Brought to you by [@tts](https://steemit.com/tts/@tts/introduction). If you find it useful please consider upvoting this reply.
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Congratulations @rollandthomas! You have completed the following achievement on the Steem blockchain and have been rewarded with new badge(s) : <table><tr><td><img src="https://steemitimages.com/60x60/http://steemitboard.com/img/notifications/postallweek.png"></td><td>You published a post every day of the week</td></tr> </table> <sub>_You can view [your badges on your Steem Board](https://steemitboard.com/@rollandthomas) and compare to others on the [Steem Ranking](https://steemitboard.com/ranking/index.php?name=rollandthomas)_</sub> <sub>_If you no longer want to receive notifications, reply to this comment with the word_ `STOP`</sub> To support your work, I also upvoted your post! **Do not miss the last post from @steemitboard:** <table><tr><td><a href="https://steemit.com/steemfest/@steemitboard/steemfest-meet-the-stemians-contest-the-mysterious-rule-revealed"><img src="https://steemitimages.com/64x128/https://cdn.steemitimages.com/DQmasWw4jQHwxng82DKxY6Q6tVg9mWcto4xcDURs8knFgCa/image.png"></a></td><td><a href="https://steemit.com/steemfest/@steemitboard/steemfest-meet-the-stemians-contest-the-mysterious-rule-revealed">SteemFest Meet The Stemians Contest - The mysterious rule revealed</a></td></tr></table> ###### [Vote for @Steemitboard as a witness](https://v2.steemconnect.com/sign/account-witness-vote?witness=steemitboard&approve=1) to get one more award and increased upvotes!
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