S&P 500 Analysis & ETF Trading

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YHOO IV's will drop immediately after earnings. IV's always elevate into earnings and fall immediately after. Have to get a good move to be able to profit on long calls. If you are good and bullish, you could try a combo play where you sell a put to pay for the call. That will take care of the high IV. If YHOO falls on earnings, then you lose on both the short put and the long call. That's the bad, but if you are right you get a little additional boost off of the short put and the long call is money. A call back spread is another possibility. Sell one ITM call and buy two OTM calls for unlimited gain potential with limited risk. Bada bing.