If you haven`t sold RIVN Rivian after the bad news:
Then looking at the RIVN Rivian Automotive options chain ahead of earnings, i would buy the $30 strike price Puts with 2023-6-16 expiration date for about $6.60 premium. If the options turn out to be profitable Before the earnings release, i would sell at least 50%.
Looking forward to read your opinion about it.
Trade closed: target reached
Price target reached. the stock hit $27.36 today and the puts are trading at $7.80.
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