QuoteOriginally posted by: chocolatemoneyQuoteOriginally posted by: AnalyticalVegaQuoteOriginally posted by: AlanQuoteOriginally posted by: AnalyticalVegaLong AAPL P/E - 12.93 Stock off All Time High of 680, now trading around 520Short GOOG P/E- 28.85 stock at All Time HighsA calendar strategy seems reasonableCall Spread for AAPL, Put Spread for GOOGComments?My comment is that GOOG already reported earnings this season and AAPL hasn't.A calendar strategy at this point seems more a bet on the magnitude of the jump fromupcoming AAPL earnings release vs AAPL implied vols, and also little to do with GOOG. Given your outlook, bullish vs. bearish vertical spreads seem to make more sense to me.hmm...vertical spreads? but then most of the vega would be hedged out. I would then need to change my name to AnalyticalDelta or something Seriously I like to be long vega generally, but with AAPL in the 54% IV percentile, there may not be that much more vega upside.If you wanna trade vega, trade vega. If a trade idea does not suit your goal of trading vega discard it, no matter of how profitable it may sound to you.Please don't embrace the common financial practice of sticking stuff in a portfolio/fund with a clear mandate because it may be highly profitable and making up convoluted explanations.I didn't fully explain the trade that is true, but I'm also not in the habit of giving out free money unless it's for charity.