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 closed: target reached
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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.