It has filled its earnings gap. There is one more gap below closer to 321. But it seems way oversold. And hence I am eyeing a long here.
A possible trade can be June calls. That is how I am intending to play LULU. I expect it to have abounce.
Disclaimer: This is my trading plan on the indices. This is intended to be for educational and informational purposes only. Trading is risky and loss of capital is possible. Do your due diligence. In trading, there are no guarantees. So please be careful risking capital.
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If you took the LULU trade along with me then in 1 day it went from a low of 331 to 345. In options I had taken the Jun 400C at 4.00 and sold it today at 6.5. So made more than 50% profits with call options
If you took the LULU trade along with me then in 1 day it went from a low of 331 to 345. In options I had taken the Jun 400C at 4.00 and sold it today at 6.5. So made more than 50% profits with call options