Next week, look to put on options plays shortly before the announcement to capitalize on post-announcement contraction. This little fellahs currently look best for plays:
LC: 5/9 (Monday) after market close. Due to the price of the underlying, short straddle it, if anything. Neither a short strangle or iron condor will be productive unless you go with a larger number of contracts.
VRX: 5/11 (Wednesday). I don't show it as before or after market right now.
M: 5/11 (Wednesday) before market open.
JWN: 5/12 (Thursday) after market close.
NVDA: 5/12 (Thursday) after market close.
I also looked at a couple of others, but decided that they were problematic for one reason or another:
TEVA ... is scheduled to announce on Monday, is an ADR. I'm not a huge fan of ADR's, since they're basically free to tentatively schedule an announcement and then move it back a week or two. For a contraction play, which I want to put on immediately before the announcement, this does me no good ... . Moreover, the spreads are wide on the options; if they're wide going in, they're going to be wide trying to get out ... .
SCTY ... will announce on 5/9 after close. I would love to play this little fellow, as it's plenty full of premium given its relatively modest price. That being said, it's another "spread wide" situation ... .
AGN ... announces on 5/10 before market open. You would think an underlying that trades 4.9 million shares on a daily basis would have fairly decent spreads on their options. Nunh-unh ... .
RAX ... 5/9 after market close is the announcement. You guessed it -- illiquid options.
I'll post actual setups as we get closer to ... .