Bulls looking to hedge their bets in the event of a post-earnings pullback should considering coupling the bought 12-strike call with a sold April 15 call, resulting in the initiation of a bull call spread.

FORBES: Panning For Golden Options In Precious Metals

Traders looking for a pre-earnings strategy for PCLN might want to consider a bull call spread.

FORBES: Priceline.com Earnings: High Expectations, Volatile Price Action

According to data from Trade-Alert.com, one trader opened a bull call spread using the November 26 and 31 strikes.

FORBES: Plains Exploration & Production's Rebound Sparks Unusual Bull Debit Spread