To be perfectly clear, we test the long put spread that is opened two-days before earnings, lets earnings occur, and then closes the option position two-days after earnings.
Specifically, we will hold the stock and sell the covered call two-days before earnings, let earnings happen, then close both the stock and the option position two-days after earnings.
To be perfectly clear, we test the short put spread that is opened two-days before earnings, lets earnings occur, and then closes the option position two-days after earnings.