Subject: Selling cash secured puts HSY
HSY has been well written up here.

For a relatively conservative play, I sold some cash secured puts on HSY for January 2025 at strike price of 170 at option price of $9.64.

So, break even price of around 160 for HSY in January 2025. At that price HSY would trade at a P/E ratio of around 17 based on 2023 earnings which is the lowest ratio since 2018.

Cash proceeds from the put option sale are receiving 5.4% interest in US 3 month treasuries.