Analyzing the options chain and the chart patterns of MRTX Mirati Therapeutics prior to the earnings report this week, I would consider purchasing the 35usd strike price Puts with an expiration date of 2023-9-15, for a premium of approximately $0.57. 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
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MRTX traded at $32.74 after earnings, and the Puts went up from $0.57 (when I wrote this article) to $1.95 at the close today (a lot higher intraday), for a fantastic 3.40X gain! Congrats to those who bought the puts!