CAVA Group Options Ahead of Earnings

CAVA is a restaurant chain that is not profitable, yet valued at $5.5 Billion market cap.
Despite the recent analysist upgrades, I think it`s extremely overvalued and will soon reach the IPO price.

Analyzing the options chain and the chart patterns of CAVA Group prior to the earnings report this week,
I would consider purchasing the 45usd strike price Puts with
an expiration date of 2023-8-18,
for a premium of approximately $1.50.
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:

CAVA reached $44.57 after the earnings release, but haven`t monitored the options for an exit.