The cyber attack on Sony Pictures has morphed into an international thriller to rival any Hollywood spy movie. New information is still leaking out on a daily basis, and this story could translate to even bigger growth for one industry.

#-ad_banner-#Sources within Sony (NYSE: SNE) reported in late November that they had been hacked and received a message from a group calling itself the Guardians of Peace. In early December, several unreleased movies were leaked onto the Internet, along with emails containing 47,000 social security numbers and other information on employees of the company.

The attack has been attributed to the company’s new film, “The Interview,” in which a team of tabloid TV journalists is recruited to assassinate North Korean leader Kim Jong-un. This week, the FBI announced that it has information that links North Korea to the hack, and Sony canceled the theatrical release of the movie, as well as all DVD and video-on-demand sales of the film.

Cyber security was already a hot topic with the hacking of Target (NYSE: TGT) and several other retailers. Companies are spending $30 billion annually on cyber security, but $445 billion is still being lost to attacks every year.

Research firm MarketsandMarkets estimated earlier this year that the cyber security market could reach $155.7 billion by 2019. But this market may grow faster than anyone has yet anticipated with the dangerous precedent Sony has set. 

By bowing to pressure and pulling the movie, hackers and larger organizations could be emboldened to commit cybercrimes. If the U.S. government fails to effectively prosecute the attack, then it will send a clear message to the cyber community around the globe.

Undervalued Cyber Security Leader With Huge Growth Potential 

FireEye (NASDAQ: FEYE) is the fastest growing security company in the large-cap space with 112% annual compound growth in billings since 2011. The company has a presence in more than 65 countries, giving it insight into attacks and trends across the globe. Subscriptions and support account for 43% of revenue, followed by products (39%) and professional services (18%). Just as important as the company’s growth rate is its renewal rate of more than 90% on subscription and support services.

FireEye has a bigger share of the advanced threat detection market than eight of its competitors combined and could use this dominance to drive revenue growth as the market expands. 

The company is also improving operational performance. Operating expenses as a percentage of revenue fell by 26% in the third quarter compared to the same period last year. 

Despite its command of the market and growth in sales, the shares are cheap relative to its competitors. FEYE trades for just 3.6 times book value, below the industry average of 4.8, and well below the price-to-book (P/B) ratio of competitors Imperva (NYSE: IMPV) at 14.3 and Proofpoint (NASDAQ: PFPT) at 29.8.

While I like the longer-term potential of FireEye, especially after the Sony hack, the stock has been volatile over the past year. Your own risk tolerance will determine whether you want to book short-term profits or take a longer-term position. I want to leave my options open by using a covered call strategy.

With FEYE trading at $33.06 at the time of this writing, we can buy 100 shares and simultaneously sell a FEYE March 35 Call, which is trading around $2.92 ($292 per contract). This gives us a net cost of $30.14 per share, which is 9% below current prices.

If FEYE is above the $35 strike price at expiration on March 20, our shares will be sold for that price. In this case, we will make a $4.86 per-share profit, or 16.1% in just 89 days. If we were able to make a similar trade every 89 days, we could earn a 66% rate of return in a year.

I like this trade as long as we can get in for a net cost of $31 or less, which still leaves us with a gain of 13% and a good discount to the current price. I have set the strike price high relative to most of the covered call trades I make because I like the long-term upside in the company and would not mind holding on to the shares. 

If FEYE fails to rally above $35 by expiration, we keep the shares and the option premium. We’ll then have the opportunity to sell another call to generate more income and lower our cost basis further.

This company has command of a market that should see a high growth rate for several years. Whether you’re a short-term trader or want to own the stock for long-term upside, a covered call trade offers the best of both worlds.

In fact, one of my colleagues has been using this strategy to generate average annualized gains of 86%. What’s more, she has a stunning 90% success rate using this cash collecting strategy. Click here to get her next trade.

This article originally appeared on ProfitableTrading.com: Sony Hack Could Spur Double-Digit Profits In This Cyber Security Leader​