AMGN Puts 290 Strike August 16th Expiration.

I believe "AMGN" will get to around 217.7ish and then dip. From a technical viewpoint I believe its showing a "head and shoulders top" based on a chart that looks back since August of 2023. I am a rookie and don't know if this is true but am basing it on that. From a fundamental viewpoint I believe the stocks rise is all a bunch of garbage. The market is bullish over the weight-loss market and are rushing into any idea in biotech that may work. Its tempting to do this because of how Eli Lilly has been historically strong, while everything else in its sector is basically garbage. My stop loss would be at above 322ish and my profits would start being taken under 300. They report earnings in week of August 1 to August 5.

Detail of Potential Trade

Enter Target: 317.7
Strike: 290
Expiration: AUG 16th
Current Premium as of Publish: 4.2