Analyzing the options chain and the chart patterns of TNP Tsakos Energy Navigation prior to the earnings report this week, I would consider purchasing the 20usd strike price Puts with an expiration date of 2023-9-15, for a premium of approximately $0.87. 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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TNP traded at $18.10 after earnings, and the Puts went up from $0.87 (when I wrote this article) to $2.00 intraday, for a decent 2.30X gain!