If you haven`t bought the speculative Double Top here:
Then analyzing the options chain and the chart patterns of IQ iQIYI prior to the earnings report this week, I would consider purchasing the 5.50usd strike price in the money Puts with an expiration date of 2023-9-29, for a premium of approximately $0.60. 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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IQ traded at $4.48 after earnings, and the Puts went up from $0.60 (when I wrote this article) to $0.89 at the close today (higher intraday), for about 50% gain!