Earnings Parade Rolls On

Quite a few plays after the bell are going to catch traders' attention. I am more focused on the charts and short-interest names, but, unfortunately, due to a crimp in time, I'm only taking positions in OpenTable (OPEN) and Riverbed Tech (RVBD). While I'm interested in LinkedIn (LNKD) and Coinstar (CSTR), I'll only be an observer.

OpenTable (OPEN) Source: StockCharts.com View Chart » View in New Window »

For OPEN, I am simply following the very bearish nature of the chart and looking for downside; however, given the move lower in the last few days, I believe it could be limited to the $46-$48 area. Therefore, I am buying 1x March $50 put, 1x February $50 put, shorting 3x February $47.5 puts and going long 1x February $45 put for $2.25. A huge blowout to the downside really won't bring too much profit for me; then again, if OPEN is flat or even slightly higher, this one will hold some of its value. I am going for a lottery ticket here....265 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.

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