Potential "free money" put play on FVRR (I just sold 100 of these)
u/imacompnerd ·
Reddit — r/thetagang
· April 28, 2026 at 18:57
· ⬆ 20 pts
· 💬 36 comments
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FVRR has been killed lately as the fears of AI replacing the need for FVRR take over sentiment on the street.
But, if you step back and look at it for a moment, FVRR has a market cap around $370mm at the moment, and $280mm cash on hand, giving an EV of around $90mm, or almost $8 \*per share\* in cash!
They're guiding for $60mm to $80mm FCF in 2026 alone, which is almost enough to buy their entire company back!
So, selling the Jan 2027 $8 puts for $0.95 each is an 11.25% return over 9 months, or around 15% return annualized. And theoretically, a company with positive FCF, very low capex, and no debt, shouldn't go negative EV, thus setting a floor (at least in theory).
And yes, I just sold 100 of these for $9,500 in premium.