WAL Western Alliance Bancorporation Options Ahead of Earnings

If you haven`t bought WAL here:

Then analyzing the options chain and the chart patterns of WAL Western Alliance Bancorporation prior to the earnings report this week,
I would consider purchasing the 48usd strike price in the money Puts with
an expiration date of 2023-10-20,
for a premium of approximately $2.12.
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: cible de profit atteinte:

WAL traded at $41.55 after earnings, and the Puts went up from $2.12 (when I wrote this article) to $5.90 at the close today (a lot higher intraday), for a fantastic 2.80X gain!