WOLF Wolfspeed Options Ahead of Earnings

Analyzing the options chain and the chart patterns of WOLF Wolfspeed prior to the earnings report this week,
I would consider purchasing the 45usd strike price Puts with
an expiration date of 2023-11-17,
for a premium of approximately $3.05.
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:

WOLF collapsed to $42.01 after earnings, and the Puts went up from $3.05 (when I wrote this article) to $5.70 at the close today (a lot higher intraday), for about 90% gain!
Congrats to those who bought the aggressive puts!