Analyzing the options chain and the chart patterns of USB U.S. Bancorp prior to the earnings report this week, I would consider purchasing the 32.50 usd strike price Puts with an expiration date of 2023-10-20, for a premium of approximately $0.77. 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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USB traded at $30.79 after earnings, and the Puts went up from $0.77 (when I wrote this article) to $1.57 at the close today (higher intraday), for a decent 2X gain!