CTAS Cintas Corporation Options Ahead of Earnings

Analyzing the options chain and the chart patterns of CTAS Cintas Corporation prior to the earnings report this week,
I would consider purchasing the 500usd strike price Puts with
an expiration date of 2023-10-20,
for a premium of approximately $10.70.
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:

CTAS reached $475 after the earnings and the Puts went up from $10.70 to at least $25 for about 2.5X gain.