I have been trying to interpret options data to get an idea as to which direction a stock may move after an event such as earnings release. I am only looking for short term direction, a day or two, not long term. The options data I'm talking about are those such as P/C OI ratios, P/C volume ratios, IV, etc. I understand how they may be used for longer term bearish or bullish as a contrarian indicators but I am wondering if any have had success reading the small changes in this data just prior to earnings release in order to get an idea whether the market senses good numbers or bad. Failing that what tech indicators on the underlying stock are popular or have a good record for the same situation. I'm not so much concerned with the size of the move, just direction.