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A trader gained $121,000 overnight, DOCU buying puts.

With the widespread introduction of Covid-19 vaccinations and the gradual return to work, DocuSign Inc.’s(DOCU) stock dropped 42% on Friday and continuously falling down.

Several users on reddit shared their profits after buying puts on Docusign. 
Many traders shared their return which was around $121, 00. According to other traders, it was a very good decision as the profit was huge despite Docusign’s stock loss.

During the October quarter, the e-signature software company fell short of its original guidance of $585 million to $597 million in billings, bringing in $565.2 million. Billings reflects purchases to new consumers, subscription renewals, and add-on sales to current consumers. 

Following the e-signature company’s dramatic slump, Cathie Wood’s ARK exchange-traded funds purchased almost 747,000 shares of DocuSign on Friday.

“While we had projected a gradual slowdown from the pandemic’s high levels of growth, the environment moved faster than we anticipated,” CEO Dan Springer remarked.

Written by farahnoorkhan

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