The GOOG Apr5/May long put spread looks excellent here at <$17. Buying reporting vol for 500 over the front and 23-line outright.
I went with the Apr5/19 long 830 PS from 11.90 (65 mid) for 10% of the journal account. I'll go larger across the board today and tomorrow in the same spread (non journal acct).
This (quoted above) won't be a journal trade due to date-risk on the report. I am also buying the APR19/MAY 830 put spread (5.05 mid) at 5/2 favoring the APR5/19 as a hedge in lieu of reducing the size on the APR5/19 due to date-risk. If the report comes in APR I lose ~$1.50 per in the APR/MAY ordinary, but gain $5 in the APR5/19. Hence the 5/2 ratio. I'll update but won't be marking this to the journal PNL, regardless of outcome. I have immunized against term-risk, but don't want it in the journal account. And yeah, I should've simply bot APR5/MAY but didn't want to roll-out at loss of edge.