CLOSE: CSUN Post Earnings Butterfly +29.6%

Here's another post earnings butterfly (white hoof) from GMoney that I traded within 30 minutes today.

CSUN also had earnings yesterday with a gap down first thing this morning from yesterday's close. Then it headed back upward to try to fill the gap all day.

When I first looked at the trade around 3pm, the debit was around 0.70, so I placed my order at 0.55 to see if it would fill. After about 4 minutes, the volatility fluctuated so I got in as seen below:
At 3:04pm, BOT BUTTERFLY CSUN JUN 08 15/12.5/10 PUT @.54 debit


Then I immediately put my exit order in for 0.70 as this was the highest price I had seen it go all day. It took a while to fill as the volatility moved the price around a bit between 0.725 and 0.60.

At 3:35pm, SOLD BUTTERFLY CSUN JUN 08 15/12.5/10 PUT @.70 credit

.70-.54/.54= 29.6% ROI in 30 minutes! WOW!

Although I capped my gains by getting out quickly, the great thing is that I was able to capture a great profit in a very short time.

This strategy is being backtested now and is being done through paper trading with TOS. Please be advised that if you are trading this real money, you may not get the same fills as me and when I do. ALso, remember to size these for max loss (i.e. you're willing to lose all that you spent on the trade), instead of setting a stop loss. This way you don't get stopped out for no reason in the middle of the volatility craziness. Good luck!