Most options traders focus on predicting the earnings announcement. Anne-Marie Baiynd prefers to wait until after the event, using price action to determine both the direction of the trade and the most suitable options strategy.
Learn Anne-Marie's post-earnings trading strategy
Anne-Marie Baiynd
Anne-Marie Baiynd is an options trader, educator, and former mathematician known for combining technical analysis with options trading. Rather than treating every earnings announcement the same, she analyzes how a stock behaves after earnings and adapts her options strategy to the chart in front of her.
Anne-Marie”s approach is built around what she calls post-earnings trading. The goal is to avoid much of the uncertainty surrounding the announcement itself while still taking advantage of the opportunities that earnings create.
Why she waits until after earnings
Many earnings traders place their positions before the company reports results. That means accepting the uncertainty of the overnight move and dealing with implied volatility collapsing immediately after the announcement.
Anne-Marie deliberately avoids both.
She waits until the first trading day after earnings has fully completed before considering a trade. Whether the company reports before the market opens or after the close determines exactly when she enters, but the principle is always the same: let the market reveal its opinion first.
By allowing the initial reaction to play out, she believes she can eliminate the uncertainty of the volatility crush while focusing instead on the quality of the trend that follows.
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Price action comes before options
One of the recurring themes throughout the interview is that Anne-Marie starts with the stock chart, not the option chain.
Her first question is always whether buyers or sellers are in control. She studies the overall trend, previous earnings reactions, and important technical levels before even thinking about strikes or expiration dates.
Only after forming a view of the stock does she decide which options strategy best matches the expected scenario.
This means the option structure is a consequence of the analysis rather than the starting point.
Looking for recurring earnings behavior
Rather than viewing every earnings announcement as a completely new event, Baiynd studies how the stock has reacted to several previous earnings releases.
She looks for recurring patterns such as:
- Stocks that repeatedly reverse after earnings.
- Stocks that continue trending in the same direction.
- Stocks that remain stuck in broad trading ranges.
- Areas where previous buyers or sellers are likely to become active again.
These historical reactions help her estimate where support and resistance may appear after the next earnings announcement.
Her philosophy is that recent earnings behavior often provides useful clues about the near-term future.
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Choosing the right options strategy
Once she has identified the expected price behavior, Baiynd selects an options strategy that matches that outlook.
If she expects the stock to remain inside a range after earnings, she may choose an iron condor to collect premium.
If she expects the stock to continue trending after pulling back into support, she often prefers a short put credit spread.
If resistance is expected to hold, she may instead use a short call credit spread.
Rather than relying on a single favorite strategy, she adjusts the structure to fit the chart.
Using Fibonacci levels to define entries
A distinctive feature of Baiynd's methodology is her use of Fibonacci measurements around earnings candles.
She has developed a framework that projects potential support and resistance levels from the earnings candle itself. These levels become areas where she expects price to react.
Instead of chasing a move immediately after earnings, she often sets alerts at these predetermined levels and waits patiently for price to reach them.
She repeatedly emphasizes that patience is one of a trader's greatest advantages.
Managing the trade
The strategy does not end once the position has been opened.
Anne-Marie generally scales out of positions as price reaches important technical levels. Rather than trying to capture every dollar of a move, she prefers taking partial profits while protecting the remaining position.
Stops are adjusted as the trade develops, and she continuously evaluates whether the original market structure remains valid.
Her objective is not to catch every last point but to build consistency over time.
Risk management
Risk management is central to Anne-Marie's approach.
She prefers highly liquid stocks with active options markets and generally limits herself to a manageable number of open positions so each trade can receive proper attention.
When selling spreads, she also considers whether she would be comfortable owning the underlying stock if assigned.
Throughout the interview, she stresses that traders should know both their exit plan and their maximum acceptable risk before entering any position.
Results
According to Anne-Marie, the earnings trades discussed in her Benzinga Pro trading room have historically produced win rates between approximately 73% and 78%, depending on the period measured.
She also explains that individual returns vary because each trader selects different strikes, expirations, and position sizes. Rather than promising specific profits, she focuses on following a structured process built around price action, technical levels, and disciplined execution.
A different way to trade earnings
Anne-Marie Baiynd's post-earnings trading strategy challenges one of the most common assumptions about earnings trading – that the biggest opportunity exists during the announcement itself.
Instead, she waits for uncertainty to disappear, studies how the market reacts, and then selects an options strategy that matches the emerging price action.
Whether using credit spreads, iron condors, or other premium-selling strategies, her process is built around patience, technical analysis, and adapting the options structure to the market rather than forcing the market to fit a predetermined strategy.
📚 Books recommended in this video
- Dan Passarelli: Trading Option Greeks
- Euan Sinclair: Volatility Trading
- Lawrence G. McMillan: Options as a Strategic Investment
