Then analyzing the options chain of PINS Pinterest prior to the earnings report this week, I would consider purchasing the 25usd strike price Puts with an expiration date of 2023-9-15 for a premium of approximately $2.17. If these options prove to be profitable prior to the earnings release, I would sell at least half of them.
I am interested to hear your thoughts on this strategy.
Trade closed: target reached
⋅
PINS trading at $22.34 after earnings. Calls trading at $3.95 from $2.17 after earnings. About 85% gain.
Trade active
⋅
PINS trading at $21.05 intraday. PUTS trading at $4.65, even higher intraday. A 2.14X Profit! I think we can write some calls this week on PINS, or long it from $20.