I have an existing Long stock position in $XONE with Earnings tomorrow. The other elements to the trade are what I will briefly detail here:
I am short the December 60/55 Strangle (so Calls are covered)
I am Long the November 55 Puts
Let me explain the scenario here:
I want to protect my long stock in the near term (for Earnings) so I added the November Puts just for this purpose. The short December Strangle is not viewed in the context of Earnings as I would expect Dips to be bought.