If you haven`t sold the Exposure to China news: or reentered the past earnings:
Then analyzing the options chain and the chart patterns of SBUX Starbucks Corporation prior to the earnings report this week, I would consider purchasing the 100usd strike price in the money Calls with an expiration date of 2023-9-15, for a premium of approximately $4.50. If these options prove to be profitable prior to the earnings release, I would sell at least half of them. I`m considering in the money calls and a longer expiration date because its options chain is just slightly bullish.
Looking forward to read your opinion about it.
Trade closed: target reached
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SBUX traded at $104.46 after earnings, and the calls went up from $4.50 (when I wrote this article) to $6.45 at some point intraday, for about about 45% gain!