Shorting UBER Put Options Yield 2.3% for One Month Out-of-the-Money Plays

Uber Technologies, Inc. (UBER) stock looks very cheap here. One simple way to play UBER is to sell short put options expiring in one month for a 2.3% yield. This is for contracts in 4% out-of-the-money strike prices.

UBER closed at $93.75 on Friday, Aug. 29. The stock is up 5% from Aug. 6 ($89.22), when it released its Q2 earnings. But it's still off from a recent peak of $96.79 on Aug. 22.