ULTA Beauty Options Ahead of Earnings

Looking at the ULTA Beauty Options options chain ahead of earnings , I would buy the $480 strike price Puts with
2023-9-15 expiration date for about
$28.90 premium.
If the options turn out to be profitable Before the earnings release, I would sell at least 50%.

Looking forward to read your opinion about it.

Yorum:

ULTA reached $417.60 today after the earnings, and the puts are now trading at $64.90, up from $28.90 when I wrote this article.
That's a significant gain of 125%!
Trade closed!