RXRX earnings options: strategies, returns and entry timing

Prepare your earnings trade

T−5 entry · compare strategies

Compare returns and downside before choosing a strategy. Returns include stored modeled fill costs and commissions.

Before earnings / earlier expiration: the stored exit can be earlier when the contracts expire.

Entry dayEntry sampleSort strategies

Today is T−5 (Oct 30, 2026). Every entry day uses its own historical contracts and quotes. Latest quote date: Oct 29, 2026 (T−6).

Mar 3, 2021 – Aug 5, 2026 · percentage return on modeled maximum loss · dollar P&L per one-lot structure. Samples can differ between strategies.

Previous-session examples are dated references while the latest completed-session update is pending. Changing the historical entry day does not change the displayed contracts. Exit controls also check whether the legs can support that exit.

Strategy	Average return	Median return	Historical win rate	Earnings tested	Average P&L	Worst observed	Previous-session example
	-3.0%4 valid ROI tests	-5.8%	25.0%1 / 4 profitable	4 earnings4 valid tests	-$1.35	-5.8%-$2.60	Previous-session example · T−5 Unavailable · The chain cannot form a valid structure with the required strikes and expirations. Last quote session: Oct 29, 2026
	-13.6%5 valid ROI tests	-2.3%	40.0%2 / 5 profitable	5 earnings5 valid tests	-$5.60	-43.1%-$15.10	Previous-session example · T−5 Unavailable · The chain cannot form a valid structure with the required strikes and expirations. Last quote session: Oct 29, 2026
	-0.3%1 valid ROI tests	-0.3%	0.0%0 / 1 profitable	1 earnings1 valid tests	-$0.10	-0.3%-$0.10	Previous-session example · T−5 Unavailable · A leg has a missing, crossed, inconsistent or mismatched two-sided quote for this session. Affected leg: $4.00 call, expiring Oct 30, 2026. Bid $0.17 / ask $0.29. The bid/ask or midpoint is missing, crossed or inconsistent with the contract and underlying. Last quote session: Oct 29, 2026
	-19.1%5 valid ROI tests	-4.6%	0.0%0 / 5 profitable	5 earnings5 valid tests	-$7.20	-47.2%-$17.70	Previous-session example · T−5 Unavailable · The chain cannot form a valid structure with the required strikes and expirations. Last quote session: Oct 29, 2026
Near-term expiry · nearest 0.90 delta	-13.9%14 valid ROI tests	-5.0%	28.6%4 / 14 profitable	14 earnings14 valid tests	-$34.73	-55.3%-$131.30	Previous-session example · T−5 Daily update pending. Waiting for quotes from 2026-10-30. Showing the most recent verified daily quote as a dated reference. These are reference prices, not current pricing. Buy to open 1 RXRX $3.50 callExpires Nov 6, 2026 · 7 DTE todayDelta 0.95 · Bid $0.63 / ask $0.88Midpoint $0.76 · Spread 33.1% of midpoint (informational)Volume 18 · Open interest 102 Estimated debit $75.50 / one structure Maximum loss before fees $75.50 Expiration breakeven $4.26 Before-earnings exit Nov 3, 2026 close Quote session: Oct 29, 2026 · T−6 at quote Refreshed Oct 30, 2026, 8:05 PM EDT Selection rules changed; this refresh is not compared with the prior example. Daily preparation example for a new entry. Refreshed while earnings are 1–28 days away. Midpoint estimate before fees; verify prices with your broker. An update does not instruct existing holders to roll.
	10.6%16 valid ROI tests	-5.9%	31.3%5 / 16 profitable	16 earnings16 valid tests	$12.43	-27.6%-$55.10	Previous-session example · T−5 Daily update pending. Waiting for quotes from 2026-10-30. Showing the most recent verified daily quote as a dated reference. These are reference prices, not current pricing. Buy to open 1 RXRX $4.00 callExpires Nov 6, 2026 · 7 DTE todayDelta 0.67 · Bid $0.35 / ask $0.45Midpoint $0.40 · Spread 25.0% of midpoint (informational)Volume 170 · Open interest 2,081 Buy to open 1 RXRX $4.00 putExpires Nov 6, 2026 · 7 DTE todayDelta -0.33 · Bid $0.15 / ask $0.20Midpoint $0.18 · Spread 28.6% of midpoint (informational)Volume 215 · Open interest 437 Estimated debit $57.50 / one structure Maximum loss before fees $57.50 Expiration breakevens $3.43 / $4.58 Before-earnings exit Nov 3, 2026 close Quote session: Oct 29, 2026 · T−6 at quote Refreshed Oct 30, 2026, 8:05 PM EDT Selection rules changed; this refresh is not compared with the prior example. Daily preparation example for a new entry. Refreshed while earnings are 1–28 days away. Midpoint estimate before fees; verify prices with your broker. An update does not instruct existing holders to roll.
	22.4%15 valid ROI tests	-14.5%	40.0%6 / 15 profitable	15 earnings15 valid tests	$2.13	-70.5%-$47.60	Previous-session example · T−5 Daily update pending. Waiting for quotes from 2026-10-30. Showing the most recent verified daily quote as a dated reference. These are reference prices, not current pricing. Buy to open 1 RXRX $3.50 putExpires Nov 6, 2026 · 7 DTE todayDelta -0.14 · Bid $0.03 / ask $0.10Midpoint $0.07 · Spread 107.7% of midpoint (informational)Volume 178 · Open interest 1,147 Buy to open 1 RXRX $5.00 callExpires Nov 6, 2026 · 7 DTE todayDelta 0.22 · Bid $0.08 / ask $0.10Midpoint $0.09 · Spread 22.2% of midpoint (informational)Volume 213 · Open interest 2,400 Estimated debit $15.50 / one structure Maximum loss before fees $15.50 Expiration breakevens $3.35 / $5.16 Before-earnings exit Nov 3, 2026 close Quote session: Oct 29, 2026 · T−6 at quote Refreshed Oct 30, 2026, 8:05 PM EDT Selection rules changed; this refresh is not compared with the prior example. Daily preparation example for a new entry. Refreshed while earnings are 1–28 days away. Midpoint estimate before fees; verify prices with your broker. An update does not instruct existing holders to roll.
	Unlimited risk · ROI unavailable	Unlimited risk · ROI unavailable	56.3%9 / 16 profitable	16 earnings16 valid tests	-$17.63	Unlimited risk · ROI unavailable-$272.60	Previous-session example · T−5 Unavailable · Naked short strategies remain research-only. Margin and assignment requirements are not modeled. Last quote session: Oct 29, 2026
	Unlimited risk · ROI unavailable	Unlimited risk · ROI unavailable	46.7%7 / 15 profitable	15 earnings15 valid tests	-$7.33	Unlimited risk · ROI unavailable-$205.10	Previous-session example · T−5 Unavailable · Naked short strategies remain research-only. Margin and assignment requirements are not modeled. Last quote session: Oct 29, 2026

Historical win rate counts after-cost P&L above zero. Break-even tests stay in the denominator; missing tests do not. It is a historical frequency, not a forecast probability.

Execution-cost scenario

Strategy to reviewAdditional execution cost ($ / one-lot round trip)

T−5 entry · before earnings / earlier expiration. The additional cost is a scenario, not an observed fill. Current quotes, liquidity and per-contract risk must be checked before sizing; historical averages do not create option legs or orders.

Explore all entry days · T−28 through T−1

Matrix metric

Strategy	T−17	T−16	T−4	T−3	T−2	T−1
Bear Call Spread	No entry trading session	No entry trading session		No entry trading session		No later pre-earnings close
Bull Put Spread						No later pre-earnings close
Calendar			No entry trading session	No entry trading session	No entry trading session	No later pre-earnings close
Iron Condor				No entry trading session		No later pre-earnings close
Long Call DITM (0.90 Delta)						No later pre-earnings close
Long Straddle						No later pre-earnings close
Long Strangle						No later pre-earnings close
Short Straddle						No later pre-earnings close
Short Strangle						No later pre-earnings close

Each column is a separate historical trade. Missing quotes, weekends and holidays are not zero returns. Compare event counts before interpreting differences between entry days.

Return basis, costs and coverage

Long-option returns use premium at risk; defined-risk structures use modeled maximum loss. Naked shorts have no maximum-loss ROI; broker margin, early assignment and resulting stock exposure are not modeled. These percentages are not account returns or annualized returns.

Stored fills and commissions are modeled. DITM uses the existing near-term call nearest +0.90 delta, minimum +0.80 delta, earliest listed expiry after the earnings reaction and no more than 60 entry DTE.

Statistics use exact aggregates across all stored cohort outcomes; sampled trade details never supply these totals. Includes tests with failed or unknown entry-filter status; this does not establish live entry eligibility.

Recorded processing is complete for this ticker's requested scope. This does not mean every quote is available or the full stock universe is complete.

Advanced exit rule

56 recorded missing-test entries for the selected day and exit; absence of a recorded gap does not prove that a test was performed.

Daily pricing context

Daily pricing update pending

Latest quote 2026-10-29; the latest completed session is 2026-10-30.

Current ATM IV: Unavailable
Historical median IV: Unavailable
IV versus matched history: Unavailable
Implied move to option expiry: Unavailable

A cheap IV label alone does not establish a profitable trade. Daily quotes are updated after a completed market session; confirm execution prices with your broker.

Prepare your trade

Current pricing and risk

Review the contracts, capital at risk and intended exit before choosing an entry.

Watch / current pricing unavailable

Fresh option quotes for this earnings event are needed before planning current legs. Historical strategy comparisons remain available above.

Maximum acceptable loss ($, optional)Round-trip fees and execution allowance ($ / one lot)Intended exit

My upcoming earnings