Marketgems Earnings Trader- Trading Strong or Weak Earnings Growth

[jenna]

Earnings Trader: AZO 90 puts $1.50 to $11.60 @ $11.90 we actually picked them up at a discount @ 1.15 and they closed $1.50 yesterday. We did pick up the call part of the straddle near the close, which added to the price but it was worth it. as the position nearly quadrupled. We were also short AZO intraday as we post our earnings plays in advance (i.e BBY, BMET, GS, NSM, etc) By the time earnings are actually out we're down to the STRADDLE/STRANGLE and have gotten the beef of the play. Little actual capital is expended in the STRADDLE/STRADDLE so we are in no way at great risk. (Holding AZO short was dismissed0