Earnings
Levels & Eventsdraws on the price
Marks every earnings date on the chart. An option that spans a report is a different trade from one that doesn't.
On this chart: Marks each reported and scheduled earnings date.
What it measures
The overlay flags each earnings date on the time axis — the scheduled binary events in an otherwise continuous price history. Earnings are when gaps happen: the one day the overnight repricing risk is structurally elevated and known in advance.
How to read it
Look at the historical markers with the price action around them: does this name typically gap hard on reports, or digest them quietly? That per-name behavior is very stable and is the practical meaning of 'earnings risk' for the stock in front of you.
Using it on the wheel
The one overlay worth checking before selling anything. An option expiring before the next report and one expiring after it are different trades at the same strike — the second carries the gap. Elevated IV into a report is also priced compensation for exactly that gap, not free money; the Earnings Calendar page carries the full calendar and expected-move context.
Like everything in this guide, these are descriptions of conditions and reference levels — context for your own decisions, not instructions to trade.