I wonder who is still using Ebay?! I used to have a store there and close it because of their high fees. If you haven`t sold EBAY here, on the active buyers decline:
Then you should know that looking at the EBAY options chain ahead of earnings , I would buy the $47.5 strike price Puts with 2023-7-21 expiration date for about $3.70 premium. If the options turn out to be profitable Before the earnings release, I would sell at least 50%. I have chosen that expiration date to allow me to be wrong and not close the position and to have a bigger gain by the expiration date, if EBAY keeps going lower.
Looking forward to read your opinion about it.
Trade closed: target reached
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EBAY trading at $43.71 today, after earnings. Puts trading at $4.60 at the close, even higher intraday. A decent gain.