On a regular trading day (ie no earnings report, no news expected), trading straddles for a short term gain does not make sense to me. The stock has to move more than the price of the 2 legs + commission for you to break even. Feel free to trade straddles on GRPN, FIO, QCOM, AAPL, GOOG, PCLN and other stocks with a history of wild post earning swings. You might get very lucky.

You can set trailing stops on a straddle to make it more profitable.

A straddle is a way to trade volatility, so this makes sense if you think the stock's volatility is higher than the market thinks it is. (In other words, you'll make money if the stock will move more than the market thinks it's going to move.)

But only if you buy enough contracts to cover your costs. One of the big hiccups in straddles is that the stock has to move far enough to cover your costs, plus a bit.

It's very easy to make small amounts of money on options, but you can probably put that time into a minimum wage job and make more.

Is anyone reputable selling options on bitcoins? I'd like to bet on high volatility there...

I can sell you bitcoin options...but they'll probably be more expensive than you want :P

Are you reputable? :-P