If you haven`t bought MGM during the Covid pandemic:
Then analyzing the options chain and the chart patterns of MGM Resorts International prior to the earnings report this week, I would consider purchasing the 39usd strike price Calls with an expiration date of 2023-12-15, for a premium of approximately $1.73. 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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MGM traded at $41.23 after the earnings release. Now it retraced, but the calls are still profitable. I think there is still upside potential in this stock.