RH Options Ahead of Earnings

If you haven`t bought RH here:

Then analyzing the options chain and the chart patterns of RH prior to the earnings report this week,
I would consider purchasing the 320usd strike price Puts with
an expiration date of 2023-9-15,
for a premium of approximately $0.98.
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 fechado: objetivo atingido:

RH probably the trading idea of the month!

RH traded at $309.00 after earnings, and the Puts went up from $0.98 (when I wrote this article) to $12.50 at the close on the earnings day (a lot higher intraday, when the stock was trading at $309), for fantastic 12.75X gain!

Congrats to those who bought the Puts!