I entered a position on GIS timed to coincide with earnings.

I exited an earnings play on ADBE for a profit.

I considered entering earnings plays on DRI, KMX and CCL, but their options grids wouldn’t allow me to construct a risk/reward ratio to my liking. I prefer that the ratio be close to even for such iron fly positions. All were skewed by quite a bit more.

By Tim Bovee, Portland, Oregon, Dec. 19, 2016