Meta Platforms Inc (META) stock is off its recent highs after the Q1 earnings release. META could be cheap based on revenue, operating cash flow, capex, and free cash flow forecasts. Value investors are looking at shorting OTM puts.
META closed at $611.21 on Monday, May 18, down slightly. However, it's well off a recent peak of $688.84 on April 17, before the April 29 earnings release. It's still up from a March 30 trough price of $536.38.