Earnings trade in GILD (Spiked Lizard)

This is a neutral trade with no risk to the upside. Its like a straddle with protection to the upside, then selling a ratio spread to move our break even down (Doubling our risk to the downside) The trade is called a spiked lizard by Liz and Jenny. The expected move is around $3 and we have an IVR of 60. With an expected 40% vol crush, lets see how this trade goes.
Our Break even is at 64.93
The trade:
-2 65 Put
+1 66.5 Put
-2 69 Put
+1 71.5 Put

We got $0.11 credit. Max profit is $261.

Operación cerrada: objetivo alcanzado:

Another earning winner this season. So far 8 winners out of 8. Let's see how it goes today.