In the preceding chapter, we laid out the basic details of our main trading strategy, the longing of straddles and strangles near earnings announcement dates. To give you a balanced view, we made sure to include some losing trades alongside the winning ones. However, we fear that you might be eager to see profits in all your trades. You might have taken note of the losing trades as ones where you could have simply shorted the positions instead of longing them. That would turn the losing trades into winners. This chapter reviews the pros and cons of such shorting strategies. These are not trades that we necessarily recommend, but we believe there’s plenty to learn from analyzing them.