Options Playbook Radio 118: Long Butterfly into GOOG Earnings

'Tis the season...earnings season. Instead of avoiding earnings, we are jumping right in, and are going to do so with a long butterfly with calls on GOOG. If you want to follow along with the book, you can find this on page 102. Today, Brian covers: A review of last time, including a mistake we made with the math GOOG announces earnings after the close on July 28 Setting up a butterfly to capture earnings numbers What is the most at-the-money straddle in the nearest-term expiration? Why do we look at this straddle number? What is the outlook? Setting up the butterfly What kind of move is the market expecting? What is our maximum risk? Reward? Choosing the 9-day versus the 2-day expiration