Anne-Marie Baiynd, author and financial analyst, recommended playing Apple Inc. (NASDAQ: AAPL) earnings with a long iron condor trade. While on Benzinga’s #PreMarket Prep, Baiynd said that Apple typically expands its range following earnings announcements, making the iron condor a non-directional trade on that theme.

Since the question in Baiynd’s mind is not whether Apple’s range will expand, but how, Baiynd likes the February 6 expiration with a $5-wide spread. Over the past three months, Apple has traded within a $10 range between $105 and $115.

If forced to pick a direction, Baiynd is in the bullish camp, but notes that it may take a few days before Apple starts a march higher. That’s where the longer duration will help traders.

Check out the full interview below:

Don’t forget to tune in to Benzinga’s #PreMarket Prep broadcast Monday-Friday 8-9:45 a.m. ET for a live, interactive morning show with veteran traders and featured finance industry experts ready to answer your questions for the trading day.

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