To The Moon

$META Platforms, Inc. (META) $ Will be onAfter-hours U.S. stocks closed on January 28Announced its latest quarterly earnings report. The market generally expects that META's financial report will still hand over a report card of "stable advertising and heavy AI investment". According to the consensus expectation of mainstream institutions, META's revenue this quarter is expected to fall at$56 billion-$59 billion range, year-on-year growth of approximately20%–21%； Earnings per share (EPS) are expected to be approximatelyUS $8.1-8.3。 If this expectation is fulfilled, META will continue to maintain a relatively prominent pace of revenue and profit growth among large technology companies.

From the perspective of business structure, advertising is still the core and most stable growth engine. Institutions generally believe that the improvement of AI-driven advertising efficiency is continuing to improve monetization capabilities. The user engagement of Instagram and Reels supports advertising revenue, and there are no obvious signs of cooling demand in the short term. This is also the main reason why the market remains relatively optimistic about the profit side of META.

However, the biggest uncertainty in the financial report still comes from the cost side. The market expects META's full-year capital expenditures to remain atUS $70-72 billionHigh level, mainly used for investment in AI infrastructure and computing power. At the same time, the Reality Labs business is still in a state of continuous loss, which has a certain drag on the overall profit margin. The focus of investors is not "whether to continue to invest in AI", but whether management can increase investment while maintaining the stability of profit margins and cash flow.

Overall, META's financial report is more like a game of "growth certainty vs. cost expansion speed". If revenue and EPS slightly exceed expectations, and management maintains a restrained and stable stance on advertising trends and future guidance, the stock price will still be supported in the short term; On the contrary, if the capital expenditure guidance is revised upward significantly again, the market's concerns about profitability elasticity may heat up again.

META Bear Call Spread Options Strategy

1. Strategy structure

Investors inMETA Platforms, Inc. (META)Build aBear Call Spread Bear Call Spread。 The strategy passesSell lower strike price Call while buying higher strike price CallCompose of, belonging toLimited benefits, limited risksThe bearish or shock-bearish strategy is suitable for investors to judgeMETA stock isn't going to jumpSituation.

(1) Sell Call with lower execution price (main source of income)

• Sell 1 strike priceK ₁ = 690Call

• Premium received$15.4/share

This Call is closer to the current stock price and is a major source of premium for the strategy. as long asMETA expiration price ≤ $690, the Call will be completely invalid, and investors can retain all premium rights.

(2) Buy a higher execution price Call (risk protection)

• Buy 1 share strike priceK ₂ = 695Call

• Payment premium$13.53/Share

This Call is used to provide protection in the event of a significant rise in the META share price, therebyLock in the maximum loss, to avoid the unlimited upside risk of naked selling Call.

(3) Call-side net income (per share)

Net premium = Sell Call − Buy Call

= 15.4 − 13.53

=$1.87/Share

Initial net income

• Net premium (per share):$1.87

• Initial net income (per contract, 100 shares): = 1.87 × 100 =$187/contract

👉 The initial net income is the bear market call spread strategyMaximum potential profit。

3. Maximum profit

WhenMETA expiration price ≤ $690Time:

• 690 Call and 695 Call are extra-price

• Both options lapse

Investors get maximum profits:

• Per share:$1.87

• Per contract:$187

4. Maximum loss

The maximum loss occurs when the Call spread is fully triggered, that is, when the META share price increases significantly.

Strike spread width: = 695 − 690 =$5

Maximum loss (per share): = Strike spread − Net premium = 5 − 1.87 =$3.13/share

Maximum loss (per contract): = 3.13 × 100 =$313/contract

📉Conditions of occurrence:

• META expiration price ≥ $695

5. Break-even point

There is only one break-even point for a bear-market call spread:

Break-even price

= Sell Call Strike Price + Net premium

= 690 + 1.87

=US $691.87

Maturity judgment rules:

• META < 691.87 →Earnings

• META = 691.87 →No profit, no loss

• META > 691.87 →Loss

6. Risk and return characteristics

• Maximum benefit:$187/Contract (Limited)

• Maximum loss:$313/Contract (Limited)

• Profit-loss ratio: gain: loss ≈ 187: 313 ≈1: 1.67

7. Strategic characteristics and applicable situations

Strategy Characteristics

• Bearish or oscillating bearish

• META is not required to plummet, as long as it is unknownSignificant increase

• Receive time value by selling Call

• When opening a position, you can clarify the maximum return and maximum risk

• Compared with naked selling Call, the risk is significantly controllable

Applicable situations

When investors judge:

• META remains high and fluctuates in the short term or falls slightly

• Before expirationThe probability of breaking $695 is low

• Hope inDefine the upper limit of riskObtain premium income on the premise of