Option Block 260: Doing the Earnings Straddle Dance

Trading Block: Earnings-Palooza: Google, Microsoft and more after the bell.

Odd Block: Combos trade in Rite Aid Corp (RAD), paper buying calls in Covanta Holding Corp. (CVA), and puts trade in YY Inc. (YY)

Xpress Block: This should be a very interesting expiration coming up. A little bit of everything is coming across the desk. Google and Microsoft both missed.

Strategy Block: Mr. Tosaw discusses straddles as this week's strategy.

Around the Block: One last check-in on Google and Microsoft. Upcoming earnings: Apple – 7/23, Zynga - 7/24, and Amazon - 7/25.