Lulu Setting up for High Volatility play

Lulu beating earnings will gap it up into a supply zone from back in August. Looking at the OIC ivolatility chart, IV sitting at 50% while historic around 30%. Last time 2x when seen these levels the IV has dropped pretty hard. With indexes looking to catch up with EMAs and possible friday selloff, This could be a great set up for Call Credit Spreads here. Set it up and let time do the work for you. Im def looking to jump into this one!

Comment:

Nothing but a Gap and run here. High sentiment for this equity. Still oberextended but no entry confirmation yet