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On CNBC's "Options Action", Mike Khouw suggested a bullish options trade in Lululemon Athletica inc. (NASDAQ:LULU). The stock traded sharply higher on better-than-expected earnings results and a strong full-year outlook.
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.
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See Also: Analysts Cheer Lululemon's Impressive Growth, Innovation Is Still Key
Khouw thinks that traders who missed the move should use options to make a bullish bet. He thinks it would be a good idea to sell the Dec. $185 put for $8, buy the Dec. $200 call for $17 and sell the Dec. $220 call for $9. The trade breaks even at $200 and it can maximally make $20. If the stock trades below $185 at the December expiration, Khouw would have to buy the stock and pay $185 for it.