very true, I mostly looked at MW as I'm trying to figure a way to maximize gains as earnings are released. As we know a spread or straddle requires one thing for the play to be a successful trade, MOVEMENT. The only thing you don't want is for the stock to remain flat. If we had just another week on the march contracts I would most likely be all over MW as the premiums are attractive and so close to the money while the stock has some great swings to it and financials will only send it up or down that much quicker.
CIEN on Friday was a prime example of how this can work. I will tell you in a few more days if it is working out well or not........fingers crossed hahaa. On CIEN I believed that they would beat earnings so on my spread I went lighter on puts than I did on my calls, not by much, 5 calls x 4 puts. It still gives me some on the downside to offset any loss on my calls but will give me better gains if it continues to rise. Right now I have less than 200.00 riding on it. If it can break into the 30.00's, and I believe it will I should make around 100% figuring my puts as worthless. If it breaks 35.00 my gains will be astronomical (premium on calls would be approximately 5.66 or about a 2700% gain) but that may be wishful thinking at this point. Guess we'll see, I've got til middle of April on it.
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