Analyzing the options chain and the chart patterns of PSTG Pure Storage prior to the earnings report this week, I would consider purchasing the 36usd strike price Puts with an expiration date of 2023-9-15, for a premium of approximately $2.25. 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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PSTG reached $34.05 after earnings, then went up. Haven`t monitored the options, but they were for sure profitable at that point.
Everything from fundamentals to technicals is suggesting they are not profitable and got a pump from Chaikin Analytics back on Aug 8th. This is going to tank. Boomer pump and dump.