NaughtyPines

NEXT UP: LULU EARNINGS -- WEDNESDAY BEFORE MARKET

NASDAQ:LULU   LULULEMON ATHLETICA INC
LULU announces earnings on Wednesday before market open, so look to put on your setup before close on Tuesday.

This is what I'm looking at tentatively right now:

April 8th 53.5/68.5 short strangle
Probability of Profit: 73%
Max Profit: $124/contract
Buying Power Effect/Max Risk: $616/undefined

Notes: This is a tentative setup. Naturally, a lot depends on how much LULU's volatility rises here, as well as how much its price moves before the announcement. Also, I don't think I'm going to see $1.24 come Tuesday, although you never know (.92's the low; 1.24 the mid; 1.55 the high for this setup).

I'll also try to post a defined risk iron condor if I can work out a setup that'll yield something close to a $1.00 credit ($100/contract) ... .
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