NTAP
NetApp · Sep 17, 2026
$197.38
Shares
Hold
Price is 66% above our fair value of $119 (range $114–$123, 4 of 4 models). Being this far above our estimate has had no bearing on what the shares did next, 2022–2026.
How we value it ›Prices as of 2:49 PM ET, Sep 17. Check the live quote before you send an order.
The put
Skip
Skip the put. It pays a lot because NTAP can drop a lot. Wait, or buy shares.
If it goes against you: you buy 100 shares at $195, which after the $860 you keep works out to $186.40 a share. Below $186.40 you are down on the trade. From that day the shares take above is the one that applies.
The order, if you sell it anyway
You get$860 (limit about $8.60)
If it fallsBuy 100 shares at $195
Cash to hold$19,500
Close earlyBuy back at about $5.16 ($516)
Chance you buy the sharesabout 43 in 100
ContractNTAP Oct 16 $195 put
ActionSell to open
In your broker app: open the stock → Trade → Options → Sell to open → pick the contract shown here.
Why skip
The put: Oct 16, $195 strike, 29 days out. Pays $860. Roughly a 43-in-100 chance you end up buying the shares.
On paper: 56% a year. That number assumes NTAP keeps moving like it did the past two years. Take that away and it is -3% a year. That is why we say skip.
Next earnings Dec 1, after this put ends. We never sell a put across a report.
If you already own 100 shares
Income call
For income on NTAP you already hold: sell the Oct 16 $230 call and take $150 now. If NTAP climbs to $230 by Oct 16, your 100 shares are sold at $230, so only do it if you're happy selling there.
If it climbs past $230 your 100 shares are sold at $230 and you keep the $150. That is the trade working, not a loss.
The call order
ActionSell to open
ContractNTAP Oct 16 $230 call
You get$150 (limit about $1.50)
If it climbsYour 100 shares sell at $230
Chance your shares are soldabout 13 in 100
After removing the trend-13% a year
First take on NTAP. Result Oct 16. See the record
Everyone sees the same card. It is not advice for you personally. You can lose more than you collect.
PrivacyTermsHow to read thisHow we value itThe recordPerformance简体中文繁體中文한국어日本語DipBell by cleo research