With all due respect, I thinking saying that something "will have no affect" is dangerous. At the end of the day, you don't know and I don't know what is going to happen in the future. I'll be the first to tell you that I could be dead wrong next earnings cycle (weekly front vol isn't bid up compared to back vol) - if so, I'll sit on my hands like I did yesterday. If I am right and the market does bid up weekly front vol, you can bet I'll sell vol until my hands bleed (assuming there is liquidity - YUM hasn't been a very liquid market in the past).
YUM feel's angry now, watching MCD fall from $90s to $80s after bad news and back to $102.30 after Credit Suisse give's them a Thumbs Up! YUM was upgraded by the Gang, why are Wall Street so bad at getting things right?