CAT Caterpillar Options Ahead of Earnings

Analyzing the options chain and the chart patterns of CAT Caterpillar prior to the earnings report this week,
I would consider purchasing the 237.5usd strike price Puts with
an expiration date of 2023-11-3,
for a premium of approximately $6.20.
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 stängt: målet nått:

CAT reached $224.20 after earnings and the Puts went up at least 2X considering the price of the stock, but I haven`t monitored the options chain back then.