Stock: CALM Position: Bull Put Spread: Jan 22.5/25 Original credit: .75 x 6 lots Price of CALM when position opened: 25.77 (yesterday) Price this morning (earnings released): pre-open: 31.10 (9:11am) Question: If I feel this stock stays up here or if it comes back in, it doesn't see 26 again until exp...should I just hold the position or take the quick overnight profit? I feel IV slowly dies from here as we have no further news in the short term. If anything, there's a decent short position on this stock which might make the stock drift higher. How much does IV collapse after an earnings report or do individual stocks behave VERY differently? I factored in a IV decrease of -20% for my risk graph. Thanks for any help.