SCHN steel put opportunity

Today there was some good news on the steel industry due to home demand, but look back to late April and you can see the industry was down and desperate.
SCHN is in a setup right now that could make you a bit of money. Lets look at the stock chart:

It has been rising due to exuberance that the housing market is on the way back up. However It seems that the top has been reached especially since everyone knows that this stock is going to report some pretty bad numbers in two weeks. Check this out:

Look at those numbers in the red Its growth estimates for this quarter are abismal compared to the rest of the industry and sector and the last 2 out of the last 4 quarters there has been some epic numbers misses. I can see this and everyone else can, too. This gets your average investor thinking that this stock is going to report total crap and that the stock will drop. So your average investor is going to start selling this off, which is why we want to be watching this stock carefully in the morning on Tues to decide if and when a good time to get in on some options would be. We will also be selling the options off BEFORE it announces in case there is a suprise that the stock did better than expected, which would crush our put. No, I think the crowd will do its job leading up to the earnings announcement.

More in the morning,
Mark