I've held off updating the PINS position all day, waiting to see how the stock would react following META's huge move lower, and time is running out now. With earnings on PINS due out after the bell, the choppy, sideways action this afternoon is making for a tough setup on the stock. On one hand, PINS should be a mover due to the significant volatility seen across peers this quarter, but on the other hand, the stock has not been highly-correlated to those names recently. The setup is a toss up, and the risk/reward doesn't seem great for the current position. The plan will be to close the Nov18 $27.50 - $32.50 call spread and the Oct28 $22 - $20 put spread hedge before the end of the day. If you'd like to take some risk into the report, rolling the bull side of the trade down into contracts closer to the money may be a better way to approach a play.