Long $PLAY atm Put

Expected Earnings: 12/10 After Hours

Type: Pre-Earnings

Exit: 12/10

PA ≈ 1%

Why? Over the last 12 quarters, during the two days prior to earnings, Dave & Buster's Entertainment has seen a negative move 58% of the time with an average return of -3.6%. The atm Put provides great exposure to this as well as the likely run-up in IV.

Long $PLAB Stock

Expected Earnings: Tomorrow Pre-Market

Type: Thru-Earnings

Exit: Tomorrow

PA ≈ 8%

Why? Over the last 12 quarters, Photronics has seen a positive earnings opening gap 67% of the time with an average return of +4.6%. $PLAB currently has a 57% strength technical buy signal and a 60% strength increasing bullishness options flow signal. $PLAB also trades currently at an19% discount to its average street price target. According to Estimize, Wall Street EPS and Revenue estimates are currently understated by 20% and 3% respectively.