Looking at the WBA Walgreens Boots Alliance options chain ahead of earnings , I would buy the $30 strike price Puts with 2023-6-16 expiration date for about $1.01 premium. If the options turn out to be profitable Before the earnings release, I would sell at least 50%.
Looking forward to read your opinion about it.
Trade closed: stop reached
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WBA is trading today at $29.48, which is ideal for a break-even stop on this trade. Thankfully, the longer expiration date of the puts helped a lot because I wasn't accurate in predicting the price movement after the earnings.