Then Analyzing the options chain of GIS General Mills prior to the earnings report this week, I would consider purchasing the 80usd strike price Puts with an expiration date of 2023-7-21, for a premium of approximately $1.35. 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
GIS is currently trading at $76.55 at the time of writing this update. Puts are trading at $3.90, which is an increase of 2.90X from the time of writing this article. The position has been closed, regardless of whether it will go lower or not.
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