CHGG Chegg Options Ahead of Earnings

Analyzing the options chain and the chart patterns of CHGG Chegg prior to the earnings report this week,
I would consider purchasing the 10usd strike price Puts with
an expiration date of 2024-3-15,
for a premium of approximately $1.22.
If these options prove to be profitable prior to the earnings release, I would sell at least half of them.

Сделка активна:

CHGG traded at $8.52 after earnings, and the puts went up from $1.22 (when I wrote this article) to $1.40 at the close today (higher intraday), for a small gain!
Still bearish in the chain.