We had a long weekend and the markets that I trade were closed an extra day. I loaded up the car and went down to the Chesapeake for the long weekend to unplug. I had very sporadic cell service so I could keep an eye on email but little else.
Getting out away from routine and civilization is really nice. I spent the weekend reading, mostly two books by Brian Johnson. The first was a $10 e-book that was basically just a 100 page sales pitch and I'm pretty disappointed in that one. The other one was about earnings trades and it is a terrific book.
Essentially, he breaks volatility into two components. The part that belongs to the stock price behavior independent of earnings and the part that is purely due to the announcement. He rigorously builds out a methodology for quantifying these two vols and then using the information to structure an earnings trade. It is very heavy, but also very thought provoking. For the overachievers, I could imagine extending this logic to other discontinuities such as going into a fed rate decision.
In any case, I highly recommend the earnings book "Exploiting Earnings Volatility"