Risky earnings trade

You guys know that I had RIMM as a short in the Revolution Investing portfolio back when it was above $100. Yes, $100, nearly 10x it’s price today. And I’ve stayed away from the name as its continued to crash. But you know what…at a new 52-week low today, down more than 70% on the year and down nearly 90% from its highs a coule years ago, I think RIMM’s probably a pretty good bet to the upside into tomorrow’s report. In fact, I’m looking at throwing a tiny bit of the cash I’ve got sitting on the sidelines at buying some December calls, probably near the $15 strike price. It’ll be a 200% gain potential with a 100% loss potential in the next 48 hours. So it, like all earnings-report-trades are VERY RISKY!  If you don’t want to use options, you could risk some capital just going long the stock, but there’s obviously still downside risk in any earnings gamble…er, trade.