Lululemon Athletica Inc LULU is scheduled to report its quarterly results after the bell on Thursday. The company is expected reported revenues and earnings of $1.55 billion and $1.43 a share, versus the year-ago figures of $1.23 billion and $1.16 per share, respectively.
On CNBC's "Options Action," Tony Zhang said that the stock traded 2.7 times its average daily volume on Wednesday. The options market is implying a move of over 9% after the release of results, versus the average 6.8% over the last eight quarters, he added.
Check out other retail stocks making moves in the premarket.
There was a seller of 400 of the June 215/360 straddles at $3.14 per contract on average, Zhang mentioned. The trader sees shares of Lululemon Athletica trading between $212 and $363 by June expiration, he added.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Date of Trade | ticker | Put/Call | Strike Price | DTE | Sentiment |
|---|
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
