I've been looking at some of the past threads on straddles and it got me thinking of how to play starddles. I'm new to options as a whole ( about ten months now) and am looking for some honest and frank feedback on my take on this. Be brutally honest as thats how I learn =) Instead of playing the underlying for a move it seems that it might make sense to play the volatility instead. Looking at several charts I've found a stock that has moved around quite a bit after earnings for the past 4 quarters. Next earnings is due in 4 weeks and the IV on the ATM options are close to the historical mean ( thay are about half way between the mean and 1 Standard Deveation). If I were to buy the ATM straddle now there is a high probability that volatility will increase as we lead up to earnings. My plan is to sell the position 1 day before earnings are announced. I'm unsure what option to use as time decay will be largest for the front two months. What am I perhaps not accounting considering that I should be ?