If you haven`t sold WOOF here, ahead of the previous earnings:
Then analyzing the options chain and the chart patterns of WOOF Petco Health and Wellness Company prior to the earnings report this week, I would consider purchasing the 7usd strike price Puts with an expiration date of 2023-9-15, for a premium of approximately $0.70. 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
WOOF traded at $5.00 after earnings, and the Puts went up from $0.70 (when I wrote this article) to $1.85 at the close today (a lot higher intraday), for a decent 165% gain! Congrats to those who bought the puts!
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