3 Options Plays to Maximize Your Reddit Stock Gains

Group 1: Reddit (RDDT) Performance - Reddit's stock gained 48.4% on its first day of trading, reaching a high of $74.90 by March 26, more than double its IPO price of$34 [1] - The launch of options trading contributed to the stock's early success, with approximately 90,000 options traded on the first day [1] - Daily options volume for Reddit stock has decreased significantly in April, dropping from 82,357 on April 1 to 32,154 on April 8 [1] Group 2: Bellring Brands (BRBR) - Bellring Brands has grown sales from $854 million in 2019 to$1.67 billion in 2023, achieving a compound annual growth rate of 18.3% [3] - The company expects revenues to grow by 12% in 2024, reaching $1.87 billion [3] - Bellring's stock trades at 46 times its trailing 12-month adjusted earnings per share and 30 times the 2024 estimate of$1.60 [3] Group 3: Applied Industrial Technologies (AIT) - Applied Industrial Technologies has appreciated by 14.9% annually since adopting its current stock symbol AIT, outperforming the S&P 500 [5] - The May 17 $195 call option has an ask price of$7.90, requiring a 4.1% down payment [6] - AIT's share price needs to increase by 3.2% over the next 38 days for the option to be considered for exercise [6] Group 4: UFP Industries (UFPI) - UFP Industries has seen its shares appreciate by 13.7% annually since going public in 1993, with a 106% increase since October 2020 [7][8] - The company expects to grow annual sales by 7% to 10% over the next five years, with an average adjusted EBITDA margin of 12.5% [8] - UFP Industries anticipates benefiting from a potential decline in interest rates later this year and into 2025 [8]