TNP Tsakos Energy Navigation Options Ahead of Earnings

Analyzing the options chain and the chart patterns of TNP Tsakos Energy Navigation prior to the earnings report this week,
I would consider purchasing the 20usd strike price Puts with
an expiration date of 2023-9-15,
for a premium of approximately $0.87.
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:

TNP traded at $18.10 after earnings, and the Puts went up from $0.87 (when I wrote this article) to $2.00 intraday, for a decent 2.30X gain!