if the trend is anything like q1 earnings (so far it's pretty damn accurate) you should be seeing crazy price movements and volume in first first hours of trading. I'll be looking to unload some aug calls that i bought pre-earnings. I am hoping there were a lot of margin calls made tonight which means shorts will be looking to close their position early morning.
I personally want to get rid of my aug calls asap. and the crazy volatility would create a sweet premium.
If there is no crazy volume when the market opens tomorrow morning... i dont know what to say.
Call me crazy, but I'm not sure we're going to see much more similarity to Q1 in the coming days. The short interest is down, the price is up (their is some psychology that comes into play for a share price this high) and their was some extremely bullish sentiment about this quarter. Q1 took most by surprise, I have a tough time believing that history will repeat itself, at least to the degree that we experienced post-Q1.
I'm still holding my calls, but today really brought me back to earth after the Q2 announcement yesterday. As much as I want to believe that we're mirroring the pattern, I just don't see the justification for it. Especially if the basis is "it happened before." This isn't some controlled experiment.