I've been watching the options on a few stocks lately, like TSLA, AAPL, BIDU, and what appears to be the safest and best play with those type is to either do the straddle on earnings or just wait for a major move when those holding the options panic sell.
For example, the July 26 100 puts for TSLA early last week went from a virtual no bid to 1.5 in one day, and those who bought the dip got a good ride as well.
BIDU 105 aug 17 puts just got slammed from 1.7 level to .07 this morning, then bounced up to .40 before selling back off.
The straddle ahead of the announcement would have been the safe way. It just turns a 10 bagger into an 8 or 9 bagger on a big move...
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