LCID Lucid Group Options Ahead of Earnings

Analyzing the options chain and the chart patterns of LCID Lucid Group prior to the earnings report this week,
I would consider purchasing the 5usd strike price in the money Puts with
an expiration date of 2023-11-17,
for a premium of approximately $0.60.
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:

LCID traded at $3.87 after earnings, and the Puts went up from $0,60 (when I wrote this article) to $1.11 at the close today (even higher intraday), for about 90% gain!
Stock might go even lower by the expiration date, I think.
Congrats to those who bought the puts!