If you want to play options pre earnings
this is what I'm doing. I'm buying the 322 calls and 273 puts expiring this Friday outright - I do not want to cap my winnings.. The calls are about $700 and the puts about $300 as of right now. I will buy these as late as possible before the close of today. Both of these limits are right on pivots
, so if either of these breaks the upside and downside completely wipes out any loss I would take from the other option. They only way I can lose money is if it trade sideways and I'm willing to take that bet.