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Yesterday (Monday), Money Morning Chief Investment Strategist Keith Fitz-Gerald appeared on FOX Business' "Varney & Co."to weigh in on investing in GoPro stock options (Nasdaq: GPRO), which became eligible for trading yesterday with a strike price between $35 and $50.
The wearable camera maker debuted on June 27 and experienced a 103% surge in the first four days of trading. GPRO stock has since pulled back, and finished the day at $43.96 per share – still up considerably from its $24 initial offering price.
"Options are going to give the institutional guys an opportunity to hedge, and everybody else who wants in an opportunity to speculate," Fitz-Gerald said.
Watch the video to see how Fitz-Gerald recommends playing GoPro stock options – an investment he likens to being "a bull rider at a professional rodeo":
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