This really is not a forum for option definition. (Although I don't mind) But if you are long a call you can sell it anytime before expiration as long there is a bid. I don't believe that options trade after hours so I don't think you could sell them after the market is closed. But yes in theory you could buy for example 10 call contracts on Monday sell them on Friday before expiration. For example they went up five points you would make $5000. ( less commissions paid) this is all purely my POV. I'm not financial advisor or licensed broker.
You can do precisely as you think.. Of course you could lose 100% of your money in the event the position went against you.
There is always that risk and trying to play the earnings angle is something many consider High risk and basically a crap shoot. I am sure there are also those that love the approach.
You can sell your option(s) prior to expiration during the regular session, as long as there is liquidity to do so.
This is all JMO of course and should not be taken as advice to trade on.
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