2 x Premium than the expected moves.
Some Companies reported positive and guidelines, while others did not.
Oil Sectors around are a bit tricky to trade. Some people with 10-15 years won't touch these. If you like to take a dip and have fun like me. Go for it.
Warning - Extreme Risk Management Needed
Strategy - Before the earning day, I will add a few / iron condor (what ever makes the better sense) Could Leg in as well.
After Earning - Close out the worthless side (winning side) and depending on the intraday breakout strategy, will play the remaining to close out for a breakeven or scratch off.
Ideally looking for a zero move. i.e. staying within the range after (highly doubt)
Iron Butterfly seems to be the best options for now. Keep an eye on the Unusual option volume. I saw a short strangle at 106/120.
A neutral trade to collect premium, if i were to execute that trade it will be an Iron Condor.