I opened $LYFT 20240524 16.0 PUT$  ,🚕 Lyft Inc. cruised past expectations in the first quarter of 2024! It delivered earnings of 15 cents per share, a notable rise from the anticipated 9 cents, and a robust year-over-year growth. The company's revenue hit $1,277.2 million, soaring above projections by over $100 million and marking a 27.6% increase, fueled by a 12% boost in active riders to 21.9 million. This performance underscores a vibrant expansion in the rideshare market, with gross bookings climbing 21% to $3.69 billion. Looking ahead, Lyft sets an optimistic course with Q2 gross bookings forecasted to range between $4.0 and $4.1 billion, representing a 16-19% year-over-year growth, and an adjusted EBITDA between $95 and $100 million. The company's strategic moves toward operational efficiency are bearing fruit, projecting an adjusted EBITDA margin of about 2.4% for Q2 and maintaining a steady aim for positive free cash flow in 2024. With Lyft not just navigating but accelerating through its financial markers, a cash-secured put position appears as a strategic play to leverage Lyft’s bullish trajectory. Here we go! 🧨