While buy-and-hold strategies can be very effective for trusted, quality enterprises, options strategies can be more appropriate for publicly traded assets that exhibit choppy behavior. Among the most kinetic companies on Wall Street right now is identity and access management specialist Okta Inc (NASDAQ:OKTA). With rapid integration of cloud architectures, Okta's gatekeeping role in digital systems for various organizations will likely rise in relevance. It's just that the bullish window of opportunity could be narrow.
For optimists, there doesn't seem to be much lack of good news. A few days ago, Okta disclosed strong second-quarter results, with earnings per share landing at 91 cents. This figure beat Wall Street analysts' consensus view of 64 cents and was also an improvement over the year-ago quarter's print of 72 cents. On the top line, Okta generated $728 million, also beating the consensus target set at $711.52 million. Further, it exceeded last year's tally of $646 million.
