Earnings plays should always be considered a gamble. However, there are some strategies available to option players that allow us to capitalize on the increased volatility (at an increased risk). Looking at the volatility chart for AAPL, it appears to be some what lacking in comparison to previous earnings dates. Part of the reason is because the stock has been so damaged over the past year, as a result the options chain is only pricing in a move of ~$25, but it may increase into next week.
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-LearJet
