I'm still learning about option strategies so please pardon my lack of knowledge. I've been thinking about earnings plays for the past few days and I've noticed that a lot of stocks make a big move one way or the other, consistently, on earnings news. I'm sure this isn't a new idea but what about buying a call and a put before the earnings news comes out and using fairly tight trailing stops on each to minimize loss on the losing option and maximize profit on the winning option? Have you done this before with any success? It seems like it will work very well as long as you find a stock that consistently moves big one way or the other on earnings. Thoughts?