GPS The Gap Options Ahead of Earnings

Analyzing the options chain and the chart patterns of GPS The Gap prior to the earnings report this week,
I would consider purchasing the 9usd strike price Puts with
an expiration date of 2023-12-15,
for a premium of approximately $0.73.
If these options prove to be profitable prior to the earnings release, I would sell at least half of them.

Looking forward to read your opinion about it.

Trade fermée manuellement:

GPS traded at $9.47 after earnings, and the Puts went up from $0.73 (when I wrote this article) to $1.02 at the close today (higher intraday), for about 40% gain!