Okta Inc (NASDAQ:OKTA) shares are rising in extended trading Monday following an announcement that the company will be added to the .
What Happened: After the market close on Monday, S&P Dow Jones Indices announced that cybersecurity firm Okta will replace Berry Global Group Inc. in the S&P MidCap 400, effective prior to the opening of trading on May 1.
Berry Global Group is set to be acquired by Amcor in a deal expected to close in the near future, pending final closing conditions.
How To Buy OKTA Stock
By now you're likely curious about how to participate in the market for Okta -- be it to purchase shares, or even attempt to bet against the company.
Buying shares is typically done through a brokerage account. You can find a list of possible trading platforms here. Many will allow you to buy “fractional shares,” which allows you to own portions of stock without buying an entire share.
If you're looking to bet against a company, the process is more complex. You'll need access to an options trading platform or a broker who will allow you to “go short” a share of stock by lending you the shares to sell. The process of shorting a stock can be found at this resource. Otherwise, if your broker allows you to trade options, you can either buy a put option or sell a call option at a strike price above where shares are currently trading -- either way it allows you to profit off of the share price decline.
OKTA Price Action: Okta shares are up approximately 33% year-to-date. The stock was up 4.14% in Monday’s after-hours session at the time of publication, per Benzinga Pro.
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