We are in the heart of earnings season, and next week a lot of the FANG stocks will announce. Two weeks ago, we did a diagonal spread in GOOGL. Let's follow up on how that went, and look at a skip-strike butterfly, as well. You can find more in The Options Playbook, which is always available on OptionsPlaybook.com, in on the Amazon Kindle edition.

Specifically:

• How was the diagonal spread set up?
• What happened to GOOGL since the paper trade was established?
• What are we doing now?
• Setting up the skip strike butterfly
• Selecting strikes and expiration date
• What is the cost?
• Remember implied volatilities!
• What happens if we are wrong? Right?
• And more...

Do you have a question that you want answered on a future episode? Send them to Brian at [email protected], or to the Options Insider at [email protected].