Ocean Man: I've been using strikes about 5% on either side of the current stock price, on stocks that average a move of more than 5% on earnings.
Clayton Rulli: VIX is still really low historically. You gonna do more?! http://yhoo.it/NhXRNd#symbol=^vix;range=5y;compare=;indicator=dividend+volume;charttype=area;crosshair=on;ohlcvalues=0;logscale=off;source=undefined;
Ocean Man: Tough to apply on stocks priced under $15, works best on stocks priced over $100.