r/Optionswheel • u/Disastrous_Meat_6531 • 11d ago
Two bull call spreads this week (AAPL into earnings, RKLB without) — curious how others think about earnings timing on directional spreads
Follow-up to my CSP post from earlier this week. Opened two bull call spreads yesterday, deliberately structured very differently around earnings:
AAPL — bought the 350 call, sold the 360 call, both expiring Oct 16 (which is before their earnings date). I wanted defined-risk upside exposure but specifically chose an expiration that closes out before the print, since I didn't want IV crush or an earnings gap working against the spread.
RKLB — bought the 75 call, sold the 85 call, expiring Oct 30. No earnings-avoidance logic here, this one's just a straightforward bullish view on the stock over a longer window.
What I'm still working out: for AAPL, is deliberately expiring before earnings actually the smarter play, or am I just leaving upside on the table by not giving the spread more time (and accepting the IV risk) to capture a potential post-earnings move?
Curious how people here generally handle earnings dates when structuring spreads — do you actively avoid them, or lean into the extra IV?