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Update On LULU

Update On LULU

Hello Smart Option Sellers! Well, LULU certainly didn't disappoint - as far as making a big move. As I type this at 4:40 pm EST, LULU has dropped over $11 per share to $54.50 in the after-hours trading session. It closed for trading in the regular session at $66 per share. We knew it had the capability to make a big move, and it's certainly happening. Here's a current 1-minute chart of LULU. Every bar represents one minute's worth of trading.

At exactly 4:05 pm EST is when earnings were announced and that's when it dropped $11. Pretty amazing. Now, if anyone entered the unofficial trades today and bought the puts, and depending on which strikes you chose, you might have a pretty good day tomorrow as long as the stock stays down at these levels by the opening tomorrow. The after-hours session closes at 8pm EST, so we'll see how it opens in the morning. There's a chance the stock can rally back up a bit by the open, but I don't see it going too far. I will send an alert in the morning on follow-up action. Have a good night. You can contact us here. Regards, Lee Let's Grab That Cash!

 

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