MKM Partners derivatives strategist Jim Strugger told investors Facebook is his best current earnings options trade idea.
The call comes right after he won big on his Netflix earnings recommendation earlier this week.
Earnings season is among the most volatile times for short-term traders, and this one will be no exception, with many cult stocks expected by the options market to have double-digit percentage swings in any direction.
Netflix shares surged Tuesday after the streaming company reported better-than-expected subscriber gains. The strategist recommended investors buy call options on Monday before the company's earnings announcement.
"Netflix Inc.'s almost 13% jump (vs. NASDAQ up 0.5%) following 2Q earnings Monday night is a reminder that even as internet bellwethers have achieved significant scale they remain volatile around events," Strugger wrote in the note to clients Wednesday.
Here is the specific Facebook options trade the strategist recommends to maximize your returns.