#Earnings Classic earnings trade: STO $TAP Nov 5th 100 puts for .80.
Over last 3 years, Biggest 5-day UP move: 6.8%, Biggest 5-day DOWN move: -4.6%, Average move: 2.8%. This trade is -4.5% OTM.
To find a bigger than 5% move at any point within 5 days after earnings, you have to go back to May 2011. THIS IS A NAKED TRADE. Use a spread if you’re not comfortable with the risk.