IBM Options Ahead of Earnings

Analyzing the options chain of IBM International Business Machines Corporation prior to the earnings report this week, I would consider purchasing
Puts with a 120usd strike price and an expiration date of 2024-1-19, for a premium of approximately $6.70.
If these options prove to be profitable prior to the earnings release, I would sell at least half of them.

I am interested to hear your thoughts on this strategy.

Trade geschlossen: Ziel wurde erreicht:

On May 11, IBM beautifully touched the strike price.