AMBA Ambarella Options Ahead of Earnings

If you haven`t bought AMBA here:

Then analyzing the options chain and the chart patterns of AMBA Ambarella prior to the earnings report this week,
I would consider purchasing the 66usd strike price Puts with
an expiration date of 2023-9-1,
for a premium of approximately $1.97.
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.

Operación cerrada: objetivo alcanzado:

AMBA traded at $60.30 after earnings, and the Puts went up from $1.97 (when I wrote this article) to $5.70 intraday, for an impressive 2.90X gain!