#Earnings Sold to Open AAPL 95/100/105 iron butterfly for 3.85. Max profit 3.85, max loss 1.15. I may sell OTM options as well, but for now I am selling this while AAPL is pretty close to the center strike. These have worked before because although AAPL may move 5-10% tomorrow, it will often drift back to the mean by Friday expiration.

Trade details: Buy (1) 95 put, Sell (1) 100 put, Sell (1) 100 call,, Buy (1) 105 call. If you’re not sure about how to exit these, watch for my comments now through Friday, or ask any time.