I entered two different strategies on PCLN this past week in anticipation of their Earnings Release.
I entered one conventional long straddle which cost $17.00
as you know the IV crush upon ER can devastate this strategy, so I also entered some short calendars which also like a large move but have some benefits in the way of IV crush. I entered 3 calendars so the max risk became comparable to the one straddle.
As you can see both strategies profited nicely.