Puts against 6 Flags

by missindependent1

Currently, SIX has around a 10x debt obligation to ebidta value. (Go see for yourself imgur.com/ztAHv7Y). ~$2500 million in Q4 2019 in debt obligations and earned $268 million.

A large amount of their revenue comes from foreign tourists, which there will soon be none let alone American consumers. They have already been struggling with customers before corona has been a big deal.

Theme parks are unlikely to get a bailout if they fail (unlike airlines, etc) and 6 Flags will most likely be insolvent soon tanking their stock price.

They went bankrupt in 2008 and it will likely happen again.

To the people who were shorted Disney because they had 40% revenue exposure from theme parks, you will love 6 flags 100% revenue exposure.

Puts at June 19th 20 or 15 strike, Best of luck gentlemen

TLDR: Who the fuck goes to 6 flags? Idiots who pay $13 for Dippin Dots

Edit: So far, I’ve gotten a lot of comments saying the price has already dropped a lot. So let me give you autists a metaphor. If someone sells you a bag and it’s full of shit, you take a look and think, “the price of this bag of shit has already dropped 50%, it won’t drop anymore”, that’s a lot of people’s comments. Yes it has dropped a lot but it’s still a bag of shit, it doesn’t matter how much it drops, a bag of shit is a bag of shit.

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Disclaimer: This information is only for educational purposes. Do not make any investment decisions based on the information in this article. Do you own due diligence.


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