Bofi makes Fortune Fastest Growing 2016

BOFI made the Fortune Fastest-Growing Companies for 2016

http://www.businesswire.com/news/home/20160929005407/en/

Companies are ranked by revenue growth rate; EPS growth rate; and three-year annualized total return for the period ended June 30, 2016. BOFI ranked 48th in Fortune’s 2016 list.

To qualify, a company - domestic or foreign - must be trading on a major U.S. stock exchange; report data in U.S. dollars; file quarterly reports with the SEC; have a minimum market capitalization of $250 million and a stock price of at least $5 on June 30, 2016; and has been trading continuously since June 30, 2013. Companies must have revenue and net income for the four quarters ended on or before April 30, 2016, of at least $50 million and $10 million, respectively; and has posted an annualized growth in revenue and earnings per share of at least 15% annually over the three years ended on or before April 30, 2016.

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A huge volume of BOFI October $20 puts were sold today. If the puts expire worthless it represents an annualized return of 17.38%. If the stock trades below $20 the seller’s cost basis will become $19.80 vs the $22.40 trading today.

Either way, not a bad way to get into the stock if you want it, and not a bad return either if the put happens to expire worthless.

Is there anyone from this board participating in this strategy? I haven’t but am now considering.

Best,
–Kevin
A little bit long on BOFI as of today