Though there are a lot of strategies which are run based on quarterly results, here I am limiting myself to short straddle taken just before result declaration and then squaring off it after result declaration. Before results are declared most of the stocks touch its peak volatility which reduces once results are out. This strategy makes money by drop in volatility. Things to be considered while running this strategy: 1. Stock which have overnight results are better as I have seen them giving better profit as compared to stocks whose result come within market time. I generally enter into trades 5 minutes before market close and exit on next day around 09:45 AM. This is for stocks where earnings are supposed to be after market close. 2. Only those stocks need to be traded which have good open interest in ITM positions too such as Infosys, HCL Tech, TCS, Reliance etc. This is important as illiquid options will have a wider ask bid spread and while exiting we might get unfavorable price