Quick Earning View (Oil & Gas)Oil and Gas stocks this earning has a lot of premium cooked up in the options.
2 x Premium than the expected moves.
Some Companies reported positive earnings and guidelines, while others did not.
Oil Sectors around earnings are a bit tricky to trade. Some people with 10-15 years won't touch these. If you like to take a dip and have fun like me. Go for it.
Warning - Extreme Risk Management Needed
Strategy - Before the earning day, I will add a few butterfly / iron condor (what ever makes the better sense) Could Leg in as well.
After Earning - Close out the worthless side (winning side) and depending on the intraday breakout strategy, will play the remaining to close out for a breakeven or scratch off.
Ideally looking for a zero move. i.e. staying within the range after earnings (highly doubt)