[wsam29]

married puts is the same as a covered call, but instead of long stock, you are short stock, long put option for upside protection.

long straddle/strangle...that is when you long both puts and calls, but not knowing which way the price will break. The only difference in a straddle are the same strike prices and a stangle are two different prices.

If you consider doing this type of play, I suggest going long the spread 2-3 weeks before the expected annoucement because of that old adage, buy the rumor, sell the fact.

The reason, the general public does not think about the earnings report until 1 week before to the day before because this is a sure way to make a quick buck, long calls and puts, the secret formula to riches!!!

Market markers know that and they will jack up the volatiliy of the spread to the point where it just gets crushed on the day of the report.

I'm not an expert at this but have taken some courses for educational purposes, well turned into education.