ZION Zions Bancorporation Options Ahead of Earnings

Analyzing the options chain of ZION Zions Bancorporation prior to the earnings report this week, I would consider purchasing
Puts with a 25 strike price and an expiration date of 2024-1-19, for a premium of approximately $4.50.
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 ist aktiv:

ZION getting closer to the price target. Puts are already up 20%!

Trade geschlossen: Ziel wurde erreicht:

ZION reached the strike price, even trading at $20.41 intraday (new 51 week low).
Puts trading at 8 usd now, up around 80%, but much higher intraday.