CLX

CLOROX CO (CLX) reports earnings Thursday after the close. Consensus EPS estimate is $1.48.

IV Rank is elevated at 89, indicating options premiums are pricing in a larger-than-usual move. This creates an edge for premium sellers — the IV crush after the event can be significant.

With elevated IV, an iron condor centered around the current price could capture premium decay while defining risk. Set short strikes at or beyond the expected move of ±9.3% for a higher probability of profit.

Enter the position 1-2 days before earnings to capture the final IV ramp. Plan to close the morning after the report once IV collapses — don't hold hoping for further decay.