Then analyzing the options chain and chart patterns of MMM 3M Company prior to the earnings report this week, I would consider purchasing the 105usd strike price Calls with an expiration date of 2023-8-18, for a premium of approximately $2.93. 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
MMM trading at $110.85 after earnings, and the calls are up from $2.93 (when I wrote this article) to $5.90 at the close today (even higher intraday). A decent 2X gain!
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