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@KogeletFor straddle RV, its the price of the ATM straddle divided by the stock price (its also called the implied move when you are really close to earnings day). RV is a great technical measurement for our trades because it encompasses both IV increases and theta decline. When looking at pre-earnings straddles, all RV charts will decrease on average (there will be days when it goes up, but in general the average line always goes down). Its the downward slope that is important - things with a steeper slopes have little RV increases heading into earnings to offset the theta decay, and things with flatter slopes have IV increase that counteract a lot of the theta decay. For our hedged straddle trades, we like to see the short strangle credits offset the typical RV decay - that way if we don't have gamma gains on stock price movement, we usually see the short strangle credits cover the straddle decline (or many times the short strangle credits exceed the long straddle decline)