Analyzing the options chain of WOOF Petco Health and Wellness Company prior to the earnings report this week, I would consider purchasing the 9usd strike price Puts with an expiration date of 2024-1-19, for a premium of approximately $1.20 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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WOOF reached a new 52-week low after earnings, trading at $7.29, resulting in a 2X gain on those put positions.