If you want to play options pre earnings this is what I'm doing. I'm buying the 322 calls and 273 puts expiring this Friday outright - I do not want to cap my winnings.. The calls are about $700 and the puts about $300 as of right now. I will buy these as late as possible before the close of today. Both of these limits are right on pivots, so if either of these breaks the upside and downside completely wipes out any loss I would take from the other option. They only way I can lose money is if it trade sideways and I'm willing to take that bet.
Komen:
The 322 calls I bought for $6.50 and the 272.50 puts I bought for bought for $1.85.. Lets go NFLX!!!!