Analyzing the options chain of DRI Darden Restaurants prior to the earnings report this week, I would consider purchasing the 160usd strike price Puts with an expiration date of 2023-7-21, for a premium of approximately $2.67. 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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DRI trading at $159.30 after earnings. Haven`t monitored the options, but for sure profitable. Looking for more upside before the expiration date.