#Earnings $NFLX seems to be the new kickoff for earnings trades, since the banks last week are pretty dull options-wise. Since it rose so much last week, I’m not finding the greatest premium. I’m thinking of buying a bullish #CallButterfly, 210/220/230 for about 1.25. Low risk for a max 8.75 win, and bullish seems to be the only direction it knows. The other trade is to sell an ATM #IronButterfly 190/200/210 for about 8.15. Similar risk/reward if you think it won’t move much (which was the case last January and April). Here are the FIVE-DAY moves after earnings last 12 quarters:

Mon 07/17/2017 AC 16.59%
Mon 04/17/2017 AC -2.97%
Wed 01/18/2017 AC 3.09%
Mon 10/17/2016 AC 27.75%
Mon 07/18/2016 AC -13.07%
Mon 04/18/2016 AC -11.53%
Tue 01/19/2016 AC -6.64%
Wed 10/14/2015 AC -7.74%
Wed 07/15/2015 AC 12.65%
Wed 04/15/2015 AC 19.33%
Tue 01/20/2015 AC 25.41%
Wed 10/15/2014 AC -19.92%