I am trying to understand the upside/downside of doing something like this. Couldn't find much information online. Taking BBRY as an example. Results are out on June 28th. Stock Price - $13.97 Buy 1 Call for Jul 5th at strike price of $14 Sell 1 Call for Jul 5th at strike price of $15 Buy 1 Put for Jul 5th at strike price of $13 Does this even make sense? So I cap my profit if the the results are great and the stock goes above $15, but in case it spirals downward I also protect myself with a PUT. I am guessing there is no time value on the PUT so it may not move at all? I am new to this so understanding different strategies. Thanks/!