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Barchart
Barchart
Mark R. Hake, CFA

3M Stock Is Still Cheap Here - Short Out-of-the-Money MMM Put Options

MMM 3M Company Barchart OTM

3M Company (MMM) stock has risen nicely since its earnings release. However, MMM stock is still cheap here based on its strong free cash flow. Existing investors can make extra income by shorting out-of-the-money puts. This article will describe this play.

MMM is at $129.75 in midday trading on Friday, Aug. 23. Since Aug. 26 when the company released its quarterly earnings, MMM has risen $26.36 or +25% since July 25 when it closed at $103.39.

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