Thanks Cap! EZ gave me the head's up, and I just turned in a nice gain of 66% on that trade. Options work a little different, when there's a news event coming, the premiums in the option contract will build.
That's the catch to playing earnings. The premiums build up prior to the e/r, and it takes more to play it. The only way it works out, is if you guess correctly, or the e/r totally surprises and makes a big move.
I've found that playing TBT prior to the fed meeting is one of the more profitable ways to go. Not foolproof, but works out more than it doesn't. By buying early in the week, the premium build up works in my favor.
