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Lyft, Inc. (LYFT) generated strong free cash flow (FCF) growth in Q2, and its FCF margins have risen. Even though LYFT stock has risen, it's still off recent highs. It looks too cheap here. Investors may want to buy in-the-money calls and short OTM puts. This article will show how to play LYFT stock.
LYFT closed at $15.82 on Friday, Aug. 15, up +8.2% on the day and also up +13.0% ($13.99) since it released the Q2 earnings results on Aug. 6. But it still may have further to go.