Analyzing the options chain and the chart patterns of BYND Beyond Meat prior to the earnings report this week, I would consider purchasing the 7.50usd strike price Puts with an expiration date of 2024-1-19, for a premium of approximately $1.83. 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 closed: target reached
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BYND traded at $6.25 today, after the earnings, and the Puts went up from $1.83 to $2.48 for almost 40% gain. I think it`s a full exit at this level.