After the market closes, three companies will share their earnings reports. **Starbucks** is expected to announce a Q3 2025 earnings per share (EPS) of **$0.96** and revenue of **$9.29 billion**. Right now, Starbucks shares are priced at **$92.61**. **Visa** is predicted to report a Q3 2025 EPS of **$2.41** and revenue of **$8.65 billion**. Currently, Visa shares are at **$351.03**. **Booking Holdings** will reveal its Q2 2025 earnings, with a forecasted EPS of **$39.79** and revenue of **$5.97 billion**. The shares are trading at **$5,609**. As we approach the earnings reports set for **July 29, 2025**, we expect increased short-term volatility. Implied volatility is high for these stocks, offering opportunities for traders who predict a drop in premiums after the announcements. We plan to focus on short-term price movements and the volatility in the weeks that follow. For **Starbucks**, we take a cautious approach despite solid expectations. Recent consumer data shows a **1.5% decline** in foot traffic across the U.S. for June, raising concerns about their future guidance. We are considering straddles or strangles to take advantage of any larger-than-expected price movement in either direction, or buying put spreads for downside protection. After **SBUX** reports earnings, we aim to sell premium. If the stock drops to an appealing level, we will sell cash-secured puts with August expirations, allowing us to either generate income or purchase shares at a lower price. If the stock rises, we may consider selling call spreads above the new price to benefit from the falling volatility. **Visa’s** performance closely mirrors consumer spending trends. Recent data from the Bureau of Economic Analysis indicates a modest **0.3% increase** in personal spending last month, which should help Visa’s transaction volumes. We believe the risks are balanced, making an iron condor strategy a good fit for betting that the stock will stay within a certain price range. For **Booking Holdings**, the focus will be on their insights about summer travel patterns. Recent TSA data shows that passenger traffic is up **7%** compared to the same time last year, hinting at a strong travel season. Given the high share price, we will only consider debit and credit spreads to manage our risk when making directional bets. With Booking’s share price at **$5,609**, trading standard options can be too expensive for many traders. Therefore, we are using call spreads to pursue an upside surprise, expecting solid results from the busy spring and early summer travel period. If the stock declines, we’ll look to sell bullish put spreads in the upcoming weeks, betting on continued strong travel demand.

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