One thing I've noticed is that during this earnings season the dynamics have changed. Companies that beat reports move up some, but most of them arent holding the moveh. Companies that meet may stay flat of have gone down, and those that dont meet drop hard. Last few ER periods, all they had to do was meet and they soared.
AAPL and BIDU are prime examples.
Best thing to do right now is to get in a position a week before ERs and if they go your way and you profit, take some off the table to cover your entry so you at least break even.
Then you can add to your probability of success by selling other options against your long positions. Since pricing is very high going into ER, you can sell that higher premium as a hedge against your long position and in some cases buy it back cheaper after the announcements. It will limit your gain on the long side but increase the probability of a winning trade.
We will be showing you all how to use these strategies in the near future.