SQ Block Options Ahead of Earnings

If you haven`t sold SQ Block here:

Then I think you already know that the company is accused of fraud!
Now analyzing the options chain of SQ Block prior to the earnings report this week,
I would consider purchasing the 59usd strike price Puts with
an expiration date of 2023-5-19,
for a premium of approximately $2.71.
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.

İşlem aktif:

SQ trading at $57.63 ahead of earnings. Puts at $4.05, from $2.71 when i wrote this article. Up 50%, and even more intraday.