AMZN. SYMC

Well, I kept missing opportunities to cover my exposure and the stock hasn't really downticked. Finally this afternoon, I covered my remaining short deltas. Now, I'm long premium/gamma. This is precisely the type of situation that I like to trade it. Something has changed in the stock and I expect a lot more volatility.

I put on an earnings play in SYMC. I bought 50 of the Oct 25 calls, 20 of the Oct 22 puts, sold 10 of the Aug 22 calls, ten of the 22 puts and sill sell 34 of the 25 calls. This position should be profitable over a wide range of stock prices. I anticipate a fall of Aug IV from 40 to 30 and a 2 point drop in OCT, 34 to 32. I couldn't really find a good position until I raised the IV post earnings from 30 to 32. However, I think this number is probably more reasonable.

Edit: I sold 40 of the Aug 25 calls, I made sure I cancelled my outstanding order this time.