SNOW Snowflake Options Ahead of Earnings

If you haven`t sold SNOW on disappointing growth:

Then analyzing the options chain and the chart patterns of SNOW Snowflake prior to the earnings report this week,
I would consider purchasing the 160usd strike price Puts with
an expiration date of 2024-9-20,
for a premium of approximately $16.10.
If these options prove to be profitable prior to the earnings release, I would sell at least half of them.

Trade chiuso: obiettivo raggiunto:

SNOW traded at $124.70 last friday, and the Puts went up from $16.10 (when I wrote this article) to $34.50 at the market close (even higher intraday), for about 2.14X gain!