Analyzing the options chain and the chart patterns of CZR Caesars Entertainment prior to the earnings report this week, I would consider purchasing the 39usd strike price Calls with an expiration date of 2023-11-17, for a premium of approximately $2.57. 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
⋅
CZR traded at $44.65 after earnings, and the Calls went up from $2.57 (when I wrote this article) to $6.05 at the close today (higher intraday), for an amazing 2.35X gain!