Mostly a bad idea. The underlying days of the trip in July would revert to LC if you were to drop the trip. Any pay for the July bid period days plus all soft credit for the trip would go towards reserve guarantee, so no extra pay (EDP, holiday, etc go on top as always).

Generally you’d be better off just bidding those days as LC days. It should also be noted that if you are REG in one month and have LC on the first day of the next bid period then you cannot be given any assignment before 1800 on that first day, even if you are off last REG day. Verified by both the company and several discussions with the scheduling committee.