WOOF Petco Health and Wellness Company Options Ahead of Earnings

If you haven`t sold WOOF before the previous earnings:

Then analyzing the options chain and the chart patterns of WOOF Petco Health and Wellness Company prior to the earnings report this week,
I would consider purchasing the 3usd strike price Puts with
an expiration date of 2024-4-19,
for a premium of approximately $0.57.
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:

PG traded at $2.01 after earnings, and the Puts went up from $0.57 (when I wrote this article) to $1.00 at the close on friday (a lot higher intraday), for about 75% gain!