MEI Methode Electronics Options Ahead of Earnings

Analyzing the options chain and the chart patterns of MEI Methode Electronics prior to the earnings report this week,
I would consider purchasing the 30usd strike price Puts with
an expiration date of 2024-1-19,
for a premium of approximately $1.82.
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:

MEI traded at $23.05 after earnings, and the Puts went up from $1.82 (when I wrote this article) to $7.00, for a fantastic 3.85X gain!