Zillow Group, Inc. (NASDAQ:Z) has jumped 100% in the last three months. The stock was trading at $19.60 on April 11th, 2016. Today it hit a high of $39.88. This incredible move asks the question...Was Zillow 100% undervalued three months ago? I have a hard time believing that is the case. In response, I am picking up puts on Zillow going into earnings on Thursday. I am buying November 18th, 2017's, strike of $40 puts. This gives me extra time if needed. These puts are trading with a bid of $4.30 and an ask of $4.90.