#Earnings Inspired by @thomberg1201‘s trade on NFLX yesterday, trying a long options play on MSFT. It used to be dead money but has perked up over last few years with some decent moves. Over last 12 quarters, Biggest UP move: 10.5%, Biggest DOWN move: -11.4%, Average move: 5.7%. So, taking a cheap shot to collect tomorrow AM:

Bought to open 51/56 strangles for .62. Requires a 4.7% move of 2.50 to hit either strike, which is below the average move above. I don’t remember last time I bought options on earnings, but this one seemed like a reasonable chance. I will look to sell half or all of the profitable side on the morning bell.