I feel the same. Buying just before the earning report is highly risky since the volatility is high & the option cost is high. I bought a jnpr oct 17.5 put option yesterday afternoon @ 0.65. Right now jnpr is 17.8 & option is 0.50 & still below cost.
Maybe should go back to Jenna's another strategy to stalk the stock 2 weeks before the earning when the volatility is low. Also maybe stay with high price stocks to keep the option spread tight.
JNPR didn't pick up any puts just the calls and sold a bunch yesterday however the leftover calls were down from $0.70 to $0.20 and the puts would only have magnified any loss. If you have puts they might still do well. In cases like this when the gap up is above the prior day high, you might consider a short the rally to offset any losses. I did that with APOL
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