Earnings play on Spotify. This is one of the strategy you can use. This is a define risk strategy as compare to undefine risk strategy sell put csp.

This strategy is vertical credit bull put spread. This is a bullish to neutral strategy, as long the price stays above your short put price upon expiry. Normally you will do this trade few days before earnings, so you will let the iv crush do it's magic. The expiry is on nov 15 /24, so you can close it out tonight or let it expire worthless. I presume this example is spot is at 400, sell put 380 and buy put 370. The risk reward is 10:3 (std).