Where are ORCL vols? What is the 30-day stat vol and implied? Where were implieds during the last 3 releases? Don't trade it if you can't answer those questions.
Best to have funds available to gamma-hedge shares into any price-shock. Worth a shot, but trading earnings is a gamble. Share vols are very well bid into this correction. IOW, there is a lot more risk at VIX 30 than at VIX 15.
Wasn't it about a year ago that you could have sold a GOOG straddle for more than $30 the day before earnings, and the stock didn't move after the announcement?
